Team Love shot 27 on the front nine at The Ritz-Carlton Golf Club to get in the mix, took the lead with a birdie at No. 11 and finished off their record round with four more birdies an eagle for a 16-under 56, breaking by one the 18-hole record in a scramble format.
They won by three shots at 26-under 118, another record in the scramble format.
"Who knows? This might be our last time playing, so it was fun to finish it off," Davis Love III said.
The 36-hole event is for players who have won a major or The Players Championship, and their partner cannot hold a PGA Tour-sanctioned card. Dru Love has played 17 times in the last two years on the PGA Tour, European Tour and Web.com Tour, but he has yet to earn a card and missed out in the qualifying tournament this year.
They were unstoppable in the second and final round, making only four pars and the rest birdies and two eagles.
The 56 beat by one the record previously held by Raymond and Raymond Floyd Jr. in 1994 and by Bob and David Charles in 1998. They finished at 26-under 118, breaking by one shot the scramble record most recently set last year by Angel and Angel Cabrera Jr.
John and Little John Daly, who opened with a 59, shot 62 and tied for second with Retief and Leo Goosen and Stewart and Connor Cink.
"He's been very competitive this week," Love said of his son. "After a slow start yesterday, it's nice to get it going and get another win. He carried me all the way through this one. He played great. It was fun to watch him hit so many good shots and make so many putts. I didn't have to putt much today, which was nice."
Team Love also won the event in 2012.
Dru Love last played on the PGA Tour last month in the RSM Classic at Sea Island. He tied for 54th, finishing just ahead of his father for the second time in 13 tour events they have played together.
"Winning a tournament with our dad is more special than trying to beat him," Dru Love said.
David and Carter Toms finished alone in fifth, while Jack Nicklaus made another big putt at the end, good for a 64 as he and grandson GT Nicklaus finished sixth.
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