Lundberg finished at 21-under 267.
The Swede also won the tournament in 2005'his first European Tour title' on the fourth hole of a playoff and finished third a year later.
(The victory) means so much for me, Lundberg said. Just halfway of the season, the main important thing for me was to keep my card so I can play (on the tour) next year as well. Now I get my card for two years, so thats really a relief.
Lara, a Spaniard, shot 64 and Benn Barham (68) of England was one stroke behind him in third.
The 34-year-old Lundberg, who was one shot ahead of Jamie Moul of England at 17 under going into the final round, was 18 under at the turn after two birdies and a bogey.
I didnt start off very good, Lundberg said. I played really badly the first nine.
Lara, who was tied for ninth at 11 under after the third round, had six birdies on the front and made two more on the 13th and 14th to top the leaderboard at 19 under. Lundberg, who started later, birdied the 12th to stay even with the Spaniard.
Both leaders were in trouble on the par-5 15th.
Lara long putt for par lipped out and he settled for a bogey. Lundberg, who hit the driver left into the trees, finally managed to par the hole.
I cant even explain what I was feeling when I hit the driver into the trees. I just thought you idiot, Lundberg said.
He needed two shots to get out of the woods, hitting the second between the trees.
It was a very risky shot, Lundberg said. I thought, if I dont take this risk, I dont have a chance to win.
Lara came back with a birdie on the 17th while Lundberg made a 27-foot birdie putt on the par-3 16th.
When I holed that putt on 16th I thought that maybe this is my day, Lundberg said. He followed with another birdie on the next hole to secure the victory.
The Russian Open became a fully fledged European Tour event in 2006 and doubled its prize money to US$2 million last season.