Stanford finished at 13-under 275 for her third win on the LPGA Tour.
Annika Sorenstam rallied late and had a chance to force a playoff but a 7-foot putt on the final hole lipped the cup. Sorenstam, who also shot a 69, and Brittany Lang, who closed with a 7-under 65, shared second place at 12-under 276.
"It was a great day, you couldn't ask for anything more to be at Lorena's tournament and playing with Annika in the final round," Stanford said. "That's just pretty special."
Stanford won $200,000.
World No. 1 Ochoa, the tournament host, finished in a tie for 14th place at 284.
"I am so pleased," Ochoa said. "It is a blessing to have the best players in the world right here in my home course. I couldn't ask for anything better. It has been amazing."