"I'm so happy to have finally won a tour title," said the 22-year-old member of the Macau national team bound for the 4th Asian Indoor and Martial Arts Games next week in Incheon, South Korea.
"Cheng has been bowling great these past two days and I knew it would be tough to beat him. I just kept saying to myself that I can beat him and win this title for my country."
Lee had earlier rolled a perfect game when he beat team-mate, Choi Io Fai, 300-167 in Round 2 to reach the semi-finals after edging Hong Kong's Rocky Hui, 219-204 in the opening round.
The runner-up defeated 2013 ABF Tour TOC winner, Yannaphon Larpapharat of Thailand, 247-193 in the first semi-final to face Lee in the final. Cheng was equally impressive when he beat team-mate, Li Min-Jhe, 245-203 in Round 1 and Wu Siu Hong of Hong Kong, 218-216 in Round 2.