Palmer's closing 1-under-par 71 gave him a 7-under 281 for the event on the Conservatory course.
Palmer's victory, for which he collected $828,000, was his first since he won the Funai Classic at Walt Disney World in 2004.
"I've been struggling because my stats are so good and I haven't been getting the results," Palmer said. "But I'll tell you what -- what a patient week. It was unbelievable."
Palmer had made just three top-10 finishes previously this season.
Thirty players ended up within five shots of Palmer's winning total.