South Africa's Charl Schwartzel has tuned up his bid for a second Masters title with a playoff victory in the US PGA Tour's Valspar Championship in Florida.

The 2011 Masters champion closed with a four-under 67, the best score of the final round, and then beat American Bill Haas on the first extra hole at the Copperhead Course at Innisbrook Resort in Palm Harbor.

It was Schwartzel's third victory worldwide in his last six events.

He holed a 65-foot birdie putt on the 13th and a 25-foot birdie putt on the 17th hole to finish at a seven-under total of 277.

Haas had a two-shot lead with three holes to play until he made bogey from the bunker on the 16th hole and narrowly missed a 25-foot birdie putt from the fringe on the 18th as he closed with a 72.

In the playoff, Haas went from the trees to the bunker and failed to save par on the 18th hole from 20 feet.

The win will put Schwartzel among the favourites for the Masters at Augusta National early next month.