The 31-year-old Spaniard, who had not won a title since claiming the crown in Buenos Aires last year, defeated second seed Italian Fognini 6-4 6-3 on Sunday.
With his 11th clay-court crown, the world number four moved into a third-place tie with fellow Spaniard Tommy Robredo on the title leaders list, behind Rafael Nadal (42) and Nicolas Almagro (12).
Ferrer was delighted with his win and said the key was consistency.
He told atpworldtour.com: "The key was I played consistent all the match, very solid, and in important moments I played better than Fabio.
"I'm happy for my new title.
"The last seven finals I lost, and this time I can change my luck so I'm happy for that. I try to always do my best and finally I can win again another title."