The Serbian dispatched her Argentine opponent 6-1, 6-2 in just 74 minutes in the Bogota final to claim her first crown since the 2010 event at Indian Wells.
It was Jankovic's 13th overall career victory.
The 20-year-old Ormaechea, meanwhile, was appearing in just her first career championship match.
LGBT community has 'bullied the American people': Bachmann
Duggar sisters unveil Christian dating rules in new book