The top seed was on court for just 74 minutes as he defeated Italian Fognini 6-4 6-3 at the ATP 250 event in Buenos Aires.
Ferrer has dominated the clay-court event in recent years and entered the showpiece the fresher after a two-set win over Nicolas Almagro in his semi-final.
Fognini had to fight back from a set and a break down to overcome Spaniard Tommy Robredo in the semi-finals and he did not have the energy required to take down his opponent in the decider.
Neither player was particularly efficient on serve in the first set but Ferrer shaded the key moments.
The Spain star made two breaks in the opener and carried the momentum into the second set as Fognini wilted.
Ferrer found his range on serve, winning 20 of 26 points – form that did not allow Fognini one break point.
And while Ferrer could only win two of his own, he converted one, enough to give him a third successive triumph at the tournament.
The world number five won two tournaments last year, but will be pleased with his start to 2014, which included a run to the quarter-finals at the Australian Open.
The win is his first ATP World Tour success since last year's triumph at the same event, while for Fognini, the loss cost him a chance to win two titles in a month.
Fognini – who is ranked 14th in the world and attempting to be the first Italian player to crack the top 10 in the men's game since Adriano Panatta in 1978 – won the Royal Guard Open in Chile earlier in February.