Wade, who has won seven PDC majors, earned his first tournament victory since 2011 with a 6-4 success in the decider.
‘The Machine’ scooped £20,000 for the win, which saw him move back up to fifth on the Order of Merit.
“I’ve won so many tournaments but it got to a point where I thought I wasn’t going to win another one, and this means more to me than any TV tournament I’ve ever won,” said Wade, who had to overturn a 4-1 deficit in the final.
“I wasn’t quite sure if I could do it. Even though people said I could win more titles, it’s different actually doing it so I’m really happy.”
The Aldershot ace, who won through the qualifiers in Crawley, began his campaign in Gibraltar by beating Gino Vos on Friday.
He then saw off Andy Hamilton on Saturday to go through to the final day.
Wade defeated Dutchman Benito van de Pas on Sunday afternoon to reach the quarter-finals, where he triumphed 6-4 against Kim Huybrechts.
The former Premier League, World Matchplay and World Grand Prix winner then claimed a 6-2 success against Michael Smith, before completing his 14th PDC Pro Tour tournament victory by defeating Beaton.
By Chris Murphy