In the closing round, Lincicome shot an even-par 72, but overcame one of the best players on the women's tour by one shot.
Her overall score was 10-under 278 for her second career title.
Ochoa was a bit worse, struggling to a 5-over 77.
She made double bogey on the last hole to finish 9-under 279.
She would have become No. 1 in the new world rankings when they are released on Monday.
For her efforts, Lincicome won $390,000, a new car, and a neklace.
She tied for second at the Kraft Nabisco Championship two weeks ago.
"I didn't really get off to a good start and was kind of getting frustrated," said Lincicome who is second only to Ochoa ($584,870) on the LPGA Official Money List with $552,735 this season. "I tried to be patient."