Bohn, whose lone victory in three years on the PGA TOUR came at the 2005 B.C. Open, shot a 1-under 71 and finished at 14-under 274.
He earned $60,000 of the $300,000 purse in the unofficial tournament that featured 81 players from the four major tours, plus mini-tour players, club pros and amateurs.
'There's no better feeling than birdying 17 anytime you're playing Pebble Beach,' said Bohn, who had four birdies, one bogey and a double bogey in the final round. 'I knew I had a two-stroke lead starting on the 18th hole and so I just laid it up on in there. I hope I can do this again many times coming down 18.'
Simpson, who won the First Tee Open at Pebble Beach in September and was among seven Champions Tour entrants, birdied the 18th for a final-round 68 and a 275 total.
'Overall, I played real well,' said Simpson, who missed a 5-foot birdie putt on 17. 'I could have used that. And then I lost a ball in the first round on the third hole at Pebble Beach. I hit it right into the sun. I never saw it and nor did the marshal. But those things happen.'
Bohn, who finished 43rd on the money list this season with $1,676,893, held a four-shot lead after six holes. But he hit his tee shot into the water on the seventh hole en route to a double-bogey 5.
PGA Tour veterans Kevin Sutherland (66), Harrison Frazar (68), Robert Gamez (70), Arron Oberholzer (70) and Nationwide Tour player Parker McLachlin (71), all finished at 276.
Jim Thorpe, a winner three weeks earlier at the Charles Schwab Championship, was alone at 277 after a final-round 71. Thorpe move to 13 under after 15 holes, but triple-bogeyed the 16th.
Brandt Snedeker (66) of the Nationwide Tour had a total of 278. Defending titlist Nick Watney matched Sutherland and Snedeker for the final-round's low honors with a 66 and finished tied with Bubba Watson and Rocco Mediate at 279.
None of the 11 LPGA entrants made the 54-hole cut in the 35th annual event.
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