Luna, who beat Tiger Woods in the 1998 Dunhill Cup, strung together rounds of 73, 66, 69 and 70 for a 14-under-par 278.
France's Olivier Edmond and defending champion Joakim Haeggman from Sweden came in third place at 9-under par, and a pair of Frenchmen, Jean-Francois Remesy and Gregory Havret, finished together in fifth at 8-under.
'This is one of my favorite courses and I am sure if they played the Moroccan Open here, I could win it,' said Luna, who won the 1998 Hassan II Trophy and finished second behind Haeggman last year.
'This course has been my friend each time I play and it brings to an end a wonderful year - unbelievable for a player like me. I've only missed two cuts and this win this just a brilliant feeling,' commented Luna.
The victory earned Luna $73,000 and the coveted jewelled dagger, awarded to him by Prince Moulay Rachid.