Drew Symons finished alone in third place at 1-under par, followed by Bill Walsh, who took fourth at even-par 360.
Short played on the Canadian Tour last season, but lost his playing privileges before the 2001 campaign.
'I came here looking to get the job done, to get back on tour, and I was able to do that,' said the 25-year-old Short. 'To win is just a huge bonus. It's been a long wait, and it feels pretty good right about now.'
Craig Matheson held a two-shot lead heading into Friday's final round, but struggled to a 9-over-par 81. He still earned one of the 2002 exempt cards for the top-15 in the Q-School.
Larry Correa, Scotty Kral and David Wagenseller shared fifth at 1-over par. Michael Hospodar, Julian James and Matheson were a shot back at plus-two.
The remaining exemptions went to David Burbidge, Cory Jones and three additional players who had to earn their spots in a playoff. Steve Davey, Kevin Jones and Adam Speirs survived the extra holes to gain exempt status.
Kent Fukushima, Scott Hawley, Walter Keating, Danny Paniccia and Jerome Valentin were defeated in the playoff, but earned non-exempt cards for next season.