The 8-5 victory over Nathan Aspinall in the final marked Bunting's second trophy in just four days, following his triumph at Premier League Night Nine in Berlin on Thursday.
This landmark European Tour win, coming almost 11 years after his debut on the circuit, propels "The Bullet" into the top four of the world rankings for the first time and to the summit of the PDC ProTour Order of Merit.
"It feels unbelievable," an ecstatic Bunting exclaimed to the PDC afterwards.
"It's been a dream week for me. I'm just so happy to get the win. I came in with a lot of confidence after winning my first Premier League night.
"Nathan didn't play his best there but I'm sure we're going to have many more battles."
Bunting also expressed his appreciation for the German fans: "It's been a long few days, but I love coming to Germany and playing in front of these fans."
Bunting's journey to the title saw him average over 101 across the tournament.
On Finals Day, he started strongly with a 6-4 victory over Cameron Menzies (averaging 105.51), followed by a comfortable 6-2 win against Karel Sedlacek in the quarter-finals.
A tense semi-final clash against fellow Premier League star Luke Humphries went the distance, with Bunting emerging victorious in a deciding leg.
He then maintained his form in the final, averaging 100 to overcome Aspinall, who was aiming for consecutive European Tour titles.
Despite the final loss, Aspinall remained positive and "proud" of the run.
"I ran out of steam in the final, but I'm proud of myself to have made back-to-back finals," he said, referencing his win at the European Darts Trophy last month.
He also revealed an ongoing injury issue that has been plaguing his performances.
"My arm is causing me a lot of pain, so I'm going to have a rest for a few days before Thursday's Premier League."