Ott's 263 total broke Anthony Painter's record of 267, which was set in 1998. Tom Carter, who picked up his second of three wins here last year, tied Painter's mark in that victory.
'If I'd known it was going to be this hard to win, I would have never gotten this job,' said Ott, who earned $94,500 for the win. 'Man, you've got to play good to out here. This job's too hard. I just don't understand it all right now.'
Brandt Snedeker, who turned pro earlier this summer finished one shot behind Ott at 24-under-par 264 after closing with a 9-under 63.
Tyler Williamson set a new course record with a 12-under 60, but it was only good enough to get him into a tie for third at 22-under-par 266. He was joined there by David McKenzie (64), with Michael Letzig one stroke further back at minus-21.
Williamson, playing well ahead of Ott, had moved past the overnight leader prior to Ott starting his round. Ott opened with a 5-foot birdie at the par-5 first. He cruised to four straight pars before catching fire.
The 34-year-old Ott birdied the sixth from 6 feet to move to 19 under. He then dropped in back-to-back birdies from the eighth at Highland Springs Country Club. Ott parred the 10th, then dropped in an 8-foot birdie putt on the 11th to tie Williamson at 22 under.
Ott came right back with another 8-foot birdie at the 12th to gain the lead outright. He rolled in his seventh birdie of the day at the 15th, this one from 12 feet out. Ott closed a bogey-free round with 15-foot birdie at the 17th and a par at the last.
'When I birdied No. 17 I thought it was over, but my caddy told me I needed to two-putt the last green,' said Ott, who jumped from 89th on the money list to 22nd. 'I've come close so many times. I started doubting myself if I would do it, but I guess I proved myself today.'
Snedeker ran off three straight birdies to open his round. He bogeyed the fourth, but birdied the sixth and ninth to get to 19 under. Snedeker converted back-to-back birdies from the 11th. He collected birdies at 14, 16 and 18 to take second place.
'I thought a 63 would win it by two or three shots,' Snedeker said. 'But I can't complain. I played fantastic and just putted out of my mind.'
Williamson birdied six of his first eight holes to fly up the leaderboard. He climbed to 17 under with a birdie on the 11th. The 2002 Wichita Open winner ran off four consecutive birdies from the 13th. He ended with a birdie at the par-5 closing hole to shoot 60.
'It was a lot of fun. I figured I didn't really have a chance to win, I just wanted to make as many birdies as I could,' said Williamson. 'I just didn't play well enough on Friday and Saturday to win.'
Tom Scherrer fired a 6-under 66 to take sixth place alone at 19-under-par 269. Ryan Armour, Jeff Freeman, Nathan Green and Andrew McLardy were two strokes further back at minus-17.
Daniel Chopra, a two-time winner this season, was joined at 16-under-par 272 by Chad Collins, Jess Daley, Fran Quinn and Kyle Thompson.