Baddeley -- who was near the top of the leader-board after all four rounds -- finished at 21-under 263. Rollins was 20-under 264.
Baddeley erased a three-shot deficit with three consecutive birdies on the 15th, 16th and 17th holes, and recorded the lowest weekend score in tournament history. He also shot 64 in Saturday's third round.
"I was definitely a lot more calm today than I was at Hilton Head (S.C.) coming down the stretch," said Baddeley, who claimed his first PGA Tour win at last year's Verizon Heritage.
Rollins shot the day's lowest score Sunday, 8-under 63.
Jeff Quinney (68), who was six shots ahead of Baddeley when the final round began, finished third at 19-under 265. He made two straight bogeys coming in.
Bart Bryant (266) was fourth.