The world No. 8 Ferrer, a U.S. Open semifinalist last month, was playing in his third final this season.
He had topped 6-foot-10 Croat Ivo Karlovic, the seventh seed, 7-6 (7-3), 6-3 Saturday to reach this final.
"It's great to be the first Spaniard to win here after Manuel Orantes (in 1975)," Ferrer said. "It's been such a long time. Nice to see my name on the trophy next to some tennis stars."
The 21-year-old Gasquet, fresh off his title at Mumbai, India last week, has won five tournaments in his career, and is 13th in the latest ATP rankings.
Swim Week Miami Beach 2014 [PHOTOS]