Woodland birdied three of the last four holes for a 7-under 64 to finish at 18-under 266 at TPC Scottsdale.
Reavie closed with a 66. After a bogey on the par-3 16th, the former Arizona State player chipped to 3 feet for birdie on the short par-4 17th and ran in a 20-footer on the par-4 18th to force the PGA TOUR's fourth straight playoff.
In the playoff on the 18th, Woodland hit short of the green from the left fairway bunker and chipped to 2 feet to set up his third PGA TOUR victory. Reavie missed the green left and couldn't get an 11-footer to fall.
The crowd was estimated at 64,273 for a record weeklong total of 719,179. On Saturday, an estimated 216,818 jammed the grounds, the biggest turnout in golf history.