Price finished at 17-under-par 196, one shot better than Wiebe, who carded a 4-under 67 on the final day at Newport Beach Country Club.
Price locked up his fourth career Champions Tour victory by staying just ahead of Wiebe, who closed within a single shot three times but could never quite catch up.
Three others tied for fifth at minus-13, including 2010 Newport Beach champ Fred Couples (67).
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