It was the Spaniard's first ATP Tour title since winning the Vienna Open almost two years ago.
The 35-year-old - who needed seven match points to get over the line in the end - came through 6-4 6-4 in Bastad to seal his 27th career title.
Ferrer, who is now ranked 46th in the world, had a comfortable lead of 5-1 over his Ukrainian opponent in the second set.
David Ferrer beat Alexandr Dolgopolov to become the Swedish Open champion.