The Serbian star, winner of the French Open this year and formerly ranked No. 1 in the world, earned a $95,500 payday by downing the Russian player 6-2, 6-1.
"Every final is a new experience and winning a title is always special," Ivanovic said.
Zvonareva committed seven double-faults in the match.
"I'm really disappointed with how I played today," Zvonareva said. " I had no concentration at any stage of the match.