Webb fired a final-round, 5-under 67 to join Ochoa at minus-10. Ochoa shot a 6-under 66, but the pair ultimately came up two short of Kim.
Sorenstam never got anything going in the first three rounds, but the No. 1 player in the world rebounded on Sunday. She collected birdies at three, four, seven and nine, then added a birdie at the par-five 17th.
'I hit a lot of good shots,' said Sorenstam. 'I think the key this week has been around the greens. The greens have been very firm, very fast - something we don't have very often. It's been a great week in many ways.'
Kim began the final round with a three-shot lead over Ai Miyazato and started great on Sunday with a birdie at the first. Things went downhill quickly for the 29-year-old. She bogeyed two, four and six and thanks to Ochoa rattling off five birdies in her first seven holes, the two were knotted at 9-under par.
Ochoa blinked first with a bogey at the ninth. Kim, playing in the final group one behind Ochoa, birdied the same hole and now Kim owned a two-shot edge. Ochoa got the stroke back with a birdie at 10, then Kim birdied the same hole to reclaim her two-stroke lead.
Kim missed a 4-footer for par at 13, but ran home a 7-foot birdie putt at 14 and was two ahead. Webb, who was 3 under on her round, converted a 10-footer for birdie at 14 and a 20-footer for birdie at 16 to get within one. When Ochoa tapped in a short birdie putt at the par-5 17th, she too trailed by only a stroke.
Kim took advantage of the par-5 17th, despite being one of the shortest hitters on the LPGA Tour. She reached the green in two and lagged her 45-foot eagle try to tap-in range. Kim kicked in the birdie putt to move two clear with one to play.
Neither Webb nor Ochoa gave themselves good looks at birdie at the last. Both hit approaches that spun back to 40-plus feet and neither was able to get lucky with their putts.
Kim found another fairway at 18 at Reunion Resort & Club. Her second found the same fate as Webb and Ochoa in the group ahead, but Kim nearly holed her long birdie try. After the lip out, and her playing partners putting out, Kim struck home her par putt to collect the victory.
This was Kim's sixth victory on the LPGA Tour, but her first since the 2002 Wendy's Championship for Children. Orlando is her adopted hometown and all of that added up to a special win.
'I'm still nervous and it's still exciting,' said Kim, who pocketed $375,000 for the victory. 'I came here eight years ago and I have a home here. I have a new family and new friends here. They followed me and cheered.'
For Webb and Ochoa, it's a continuation of their 2006 success. Since their playoff at the Kraft Nabisco Championship in early April, Ochoa won the following event, the Takefuji Classic, and Webb tied for second last week at the Florida's Natural Charity Championship.
'It was pretty solid,' said Webb. 'I needed to get to 10 (under par) to have a shot. Starting out the day with the wind picking up, I thought 67 at the least.'
Hee-Won Han fired a 6-under 66 and vaulted into a tie for fifth place. She got in at 4-under-par 284 and was joined by Michele Redman (67), Miyazato (76) and Christina Kim (74), who aced the 12th hole on Sunday.
Janice Moodie (67), Se Ri Pak (69) and Heather Young (70) shared ninth place at 3-under-par 285.