Ogilvy, the 2006 U.S. Open champion, won for the first time on the Australasian tour, finishing at 14-under 274 on the Hyatt Regency resort course.
I made a lot of good putts today and got up and down well when I missed a few greens, said Ogilvy, who had only one bogey on the weekend ' his last was on the sixth hole in Saturdays third round.
Goggin, the third-round leader, faded with three bogeys in seven holes in a 72.
Australians Peter Senior (69), Scott Strange (69) and Rod Pampling (72) tied for third at 11 under.
Goggin, trying to win his first tournament in nearly 10 years, led by three strokes, but bogeyed the ninth and 10th holes, allowing Ogilvy to pull into a share of the lead three holes later.
Goggin then pulled his second shot on the par-5 15th into the water and made a bogey, surrendering the lead before Ogilvy birdied the 16th to give himself a two-shot cushion.
With a birdie on 17 cutting the lead to one, Goggin made it interesting coming down the tough water-lined 18th. But Ogilvy, with light rain falling just ahead of an approaching thunderstorm, had a tap-in par while Goggin bogeyed.
He had a pretty tough time on nine and 10, and that sort of opened the door for me, Ogilvy said.
The Australian Open, the final event on the so-called Triple Crown of Australian golf, begins Thursday at Royal Sydney. American John Daly is entered and will be trying to play all four rounds after missing the cut in the Australian Masters and PGA.