Woodard posted a 3-under 68 to match Scott at 12-under-par 272. Scott shot an even-par 72, and the players made their way to No. 18 for the first playoff hole.
The players remained tied after the first extra hole, and then headed to the par-3 17th. Woodard knocked his tee ball to 10 feet, while Scott missed the green short.
Scott chunked his chip, then played his third on to the green. After the miscue by Scott, Woodard routinely two-putted for his first victory since joining the Canadian Tour in 1996.
'Well worth the wait,' said Woodard. 'Knowing Steve's short game, I was surprised at what happened (in the playoff). It's a tough way to lose. But I knew I had a chance today. The way I've been playing the past few weeks, I felt I could put myself in position to win.'
Woodard has made the cut in all 11 starts this season and has finished in the top-25 nine times. With his first-place check, Woodard moved to fourth on the Order of Merit.
Scott lost his one-shot lead that he brought into the final round.
'Other than one putt, I really didn't make anything today,' admitted Scott. 'It's disappointing. I felt this was my tournament to win, and I didn't get the job done. I think I'm close, but how many times can you put yourself in that position again? It's close, that's all I can say right now.'
Matt McQuillan (68) shared third place with Craig Scott (69). The duo came in at 11-under-par 273, and that was McQuillan's fourth consecutive top-six finish.
Jason Allred (66), Brad Fritsch (67), George Bradford (69), Cory Jones (70) and David Hearn (72) tied for fifth place at minus-10. Marcus Jones (67) and Jason Higton (69) shared 10th at nine-under-par 275.