The Swedish rider had been two seconds behind Maxime Monfort and one second behind Lars Boom heading into the 192km final stage, but finished high up to claim the general classification.
The overall win signified Lovkvist’s first win since 2009, while overnight leader Monfort was unable to hold his slender lead under pressure.
Lovkvist, not typically known for his accelerations on the climbs, was able to dislodge both Boom and Monfort as he claimed a memorable win.
"I am very happy, I felt good all week and I knew we could do something about this race," said Löfkvist on his team site.
"I have to thank my team-mates for their work, I was impressed by the speed with which we found ourselves as a team on the road, it is not always easy for a new group, but there is went better and better every day.
"The first thing I had in mind after crossing the line? ‘Finally!'.
"This morning, I knew that the stage would be difficult and that we would need to have a very good strategy to win the race.
"I waited quite a long time for this and it is a real satisfaction."
Belgian rider Jurgen Roelandts of Lotto Belisol took victory in the 192km final stage from Bandol to Grasse, ahead of Francesco Reda (Androni Giocattoli) and Mikel Nieve Ituralde (Euskaltel-Euskadi).