The 24-year-old Dutchman was simply too strong for world number 16 Wright and took control of the contest by winning the first four sets.
Although Wright made a fight of it, the Scot paid for the poor start as Van Gerwen closed out victory to lift the Sid Waddell Trophy.
A key moment came when Wright missed double top in the deciding leg and paid as Van Gerwen hit double eight to go three sets clear at 5-2.
The victor said: “It was a very tough match. I got nervous after going 4-0 up but it doesn't matter how you win a final, winning it is the most important.
“It’s so difficult to win this title and there was more pressure on me this year than last year. It means so much for me,
“It’s unbelievable, a dream come true. I’m so glad I won but all credit to Peter, he did well and put me under pressure.”
Wright added: “I never give up — that’s my game. The crowd got behind me and made me play — but well done Michael.”