Bransdon birdied the first extra hole to win just his second PGA Tour of Australasia event after leading the event through the opening 18 and 36 holes.
New Zealander Mike Hendry, who took a one shot lead into the final round, finished one shot out of the playoff and alone in 4th position.
Both Hendry and Bransdon were tied through 63 holes but the New Zealander dropped three shots in the next two holes to allow Bransdon to take the lead before he too dropped shots over the closing nine holes.
Both Herbert and McCardle finished the event off strongly to catch Bransdon before the Victorian put the issue beyond doubt with a brilliant birdie at the first extra hole.
"I played really good early to set myself up in a good position," said Bransdon. "I made a nice putt on the first and really good iron shots for the next seven holes. But I made a bit of a mental error on nine and that sort of brought me back to the boys a bit.
"I was actually more relaxed in the playoff than I was in regulation playing the 18th - it was just a bizarre thing.
"I am pretty happy right now, obviously it has been eluded to that it's been a long career and so it's nice to win again," added Bransdon who has competed on the PGA Tour of Australasia since 1995.
"Heading into the last round, I wasn't confident that I could win because I can't control what anyone else does, but I was confident in my abilities and that I could stay in contention by playing well.
"I have been doing that the last couple of days and so it's just nice to have pulled it off with some self belief."
Sydney's Matt Giles finished in a share of 5th with the impressive amateur Nathan Holman.
The next event for many of those in this week's field will be at the International Final Qualifying for the Open Championship over 36 holes at Kingston Heath on Tuesday and Wednesday.