Value of the last element of a list

A quick & dirty way of doing it is by using List.reduce. Assuming the list is called ls,

let lastElement ls = List.reduce (fun _ i -> i) ls

As for efficiency, I agree with Pavel.

In general, if you need to do this, you're doing something wrong. Since F# lists are single-linked, accessing the last element is costly - O(N), where N is size of list. Try to rewrite your algorithm so that you always access the first element, not the last (which is O(1)). If you cannot do so, chances are good that your choice of list for a data structure wasn't correct in the first place.

Try this function. It uses recursion, though it gets optimised to iteration anyway since it's tail recursion. In any case, it is most likely quicker than reversing the entire list (using List.rev).

let rec last = function
    | hd :: [] -> hd
    | hd :: tl -> last tl
    | _ -> failwith "Empty list."

The answer of Pavel Minaev is definitely worth taking into account, however. Nonetheless, the algorithm you have requested may be useful in some rare cases, and is the most efficient way to go about the task.