The top-seeded Ferrer bested Almagro, the defending Buenos Aires champ, 4-6, 6-3, 6-2, improving to 13-1 this year and 9-0 against Almagro for his career.
Ferrer bounced back after going down early, reeling off five aces to take the match in just under 2 hours on the red clay at Buenos Aires Lawn Tennis Club.
Ferrer lost to fellow Spaniard Juan Carlos Ferrero in the 2010 Buenos Aires finals.
Kate Moss Playboy shoot is classic Playboy, classic Kate
Theater accidentally screens 'Nymphomaniac' trailer instead of Disney's 'Frozen'