The US Open champion became the first American to land the title at Bay Hill since 2015 with a one-shot victory over European No 1 Westwood.
DeChambeau closed with a 71 for an 11-under-par 277 total as he landed an eighth PGA Tour title and second of the 2020-21 season.
Afterwards, he revealed that he had received a text from Woods on Sunday morning as the 15-time major winner recovers from the serious leg injuries he sustained in a car crash in Los Angeles last month.
“He texted me this morning out of the blue,” said DeChambeau. “One of the things that we talked about was, it's not about how many times you get kicked to the curb or knocked down.
“It's about how many times you can get back up and keep moving forward. And I think this red cardigan (presented to the winner) is not only for Mr Palmer, but I would say it's a little bit for Tiger as well, knowing what place he's in right now.”
On a day when no player broke 70 in the final round at the Orlando venue for the first time since 1980, DeChambeau dug deep to hold off Westwood.
“One of the things that stuck in my mind was Tiger and how he kept fighting,” he added. “A lot of the conditions were similar to the US Open and that helped me.
That helped me feel comfortable out there and I knew there was going to be tough conditions out there.”
DeChambeau is up to sixth in the world rankings on the back of the win and moves to No 1 in the FedExCup standings for the second time this season.
“It's beyond my wildest dreams,” he said of the victory. “I came here as an amateur, he (Palmer) gave me an invitation and I loved this golf course the minute I arrived.
“I love the atmosphere and I love the fans, I loved what Mr Palmer did with this place and what he's done and his legacy he's left here. It's quite amazing.”