After closing with a final round 65, Pavit -- who suffered a play-off defeat at the recent Thailand Open -- redeemed himself in a four-way battle against compatriot Phachara Khongwatmai, Australian David Gleeson and Aman Raj of India.
Pavit, 30, told reporters it had been an "unbelievable week".
"It is the best chip in my life," he said of his hole out.
Gleeson, who led after three rounds, could have wrapped up the tournament on the 72nd hole, but a costly bogey gave him a three-under 68.
Phachara shot a final round 67 and Raj a blistering 63, with all the play-off contenders ending regulation play on matching totals of 13-under-par 271.
In the first play-off hole -- which was held on the par-four 18th -- Raj bowed out with a bogey.