The 35-year-old Texan finished five days of play in the desert at 30-under 329, one shot clear of Tom Lehman (66) and Rory Sabbatini (64).
Estes collected $810,000 for his triumph, and moved into 8th place on the 2001 money list.
'I hit more amazing shots, quality golf shots, than I ever have this week, said McCarron, who also won the FedEx St. Jude Classic.
Estes started the day five shots back of fourth-round leader Scott McCarron. McCarron led by three shots over his nearest opponent on Sunday before five-putting the par-4 4th for a triple bogey.
McCarron shot 1-under 71 to tie for fourth place with Davis Love III, who set a TPC at Summerlin course record with an 11-under 61.
Love carded six straight birdies from holes 9-14, but parred the short par-4 15th and the par-5 16th to end his chances for victory.
Three players ' Estes, Lehman and Sabbatini ' were tied for the lead as the final group approached the 15th hole.
Estes took a one-shot advantage by birdieing the 279-yard hole; though he was quickly caught by Lehman, who did the same.
Estes again went 1-up with a birdie at No. 16; however, this time Lehman couldnt match his counterpart. Lehman thinned his second shot into the water guarding the green and was forced to make an eight-foot par putt to remain one down with two to play.
It was like the club slipped in my hand, Lehman said of the approach shot. It was pretty bizarre.
On the other hand, Sabbatini made birdie to pull within one of Estes lead.
Estes narrowly missed a pair of birdie putts over his final two holes, and entered the clubhouse at 30-under.
Both Lehman and Sabbatini made par-3s on the 17th. Sabbatini then missed a 30-foot birdie putt at the last to force a playoff, while Lehman did the same from 20 feet.
Estes' victory was the end result of stellar play over the last month and a half. He tied for eighth at the Air Canada Championship, tied for second at the Bell Canadian Open and tied for fourth at the Texas Open (where he earned his first PGA Tour victory in 1994).
Including this week, Estes has fired 17 consecutive sub-70 rounds.
Full-field scores from the Invensys Classic