Going one better than his 2nd place finish two years ago, Peter shot a final round of 73 at Trevose to claim his first victory at the Cornish Festival.
Peter held off strong challenges from James Ruth and Stuart Manley who both thought they were back in the title hunt after Peter made bogey at the 10th and 11th in the final round but a rallying performance saw Peter make two closing birdies to seal victory.
He said: "I dropped two shots on the tenth and 11th to go back to four-over-par and feared the worst. But I made two late birdies and although I thought I had blown it was delighted to discover I had won.
The former Ryder Cup player, vice captain and European Tour winner has struggled to play competitive golf of late due to the terrible weather but he was suitably delighted with the win.
Congratulations Peter from everyone at Champions of Golf, form is temporary, class is permanent!