Fernando Gonzalez was handed the Movistar Open title when final opponent Juan Monaco withdrew from the tournament due to an ankle injury.
It was the first time a walkover has occurred in an ATP singles final since 2003, when David Nalbandian was unable to face Guillermo Coria in Basle due to a left wrist injury.
"I'm happy to have won this tournament once again but a little sad for Juan, who wasn't able to play the final," Gonzalez said.
"He is a great player and even better person. It's tough for him not to be able to play the final and probably miss the Davis Cup next week.
"We are good friends and I hope he recovers quickly from this injury."
Seeking a third Vina del Mar crown in seven years, the 27-year-old overcame the unseeded Pablo Cuevas 6-7 (4/7) 7-6 (8/6) 6-2 to reach the final.
Gonzalez also had to deal with an 18-minute power failure during the second set and saved two match-points in the 12th game before coming through in the tie-break.
The Chilean then went on to claim the final set and win the match in two hours and 47 minutes.
"It was a very tough match," Gonzalez said.
"He started serving really well and I wasn't feeling the ball very good in the beginning.
"I was lucky to save two match-points in the second set to win the match.
"Pablo Cuevas is a great player, especially on clay. He has been climbing the rankings quickly."
Gonzalez has now won 23 of his last 26 matches on clay.
"This is a very special tournament for me," he added.
"There is only one tournament in Chile every year and every time I look forward to playing in front of my home crowd.
"They have supported me incredibly in every match, and today it was no different."
The third-seeded Monaco had earlier defeated unseeded Spaniard Santiago Ventura in his last-four clash but then suffered a second-degree sprain to his left ankle in the second set of the doubles final.
"It's very unfortunate that this happened to me at such a good period of my career," said Monaco, who had advanced to his first final of the year.
"I'm sad that I won't be able to play the final here in Vina del Mar and the Davis Cup tie against Great Britain next week.
"I'm hoping to make a comeback in Buenos Aires."
After winning three titles last year, Monaco came within one victory of his first of 2008 after completing a 6-2 6-4 triumph over Ventura.
Monaco dispatched his opponent in swift fashion, needing just 29 minutes to capture the first set and another 46 to close out the match.
Last season, Monaco won all three of his titles on clay and boasted 28 victories on the surface, trailing only Rafael Nadal's total of 31.