But his bid for a fourth DP World Tour title hit a sticky patch as he was caught and then overtaken at the top by a charging Neergaard-Petersen on the back nine.
With nothing to separate the pair as Li made his way down the 18th, he knew a closing birdie would be enough to get his hands on the trophy.
However, his approach landed in the bunker and he could only send his recovery shot to 15 feet.
CLINCHING PUTT
But he showed nerves of steel as he drained the birdie putt to enter the winner’s circle for the first time since the 2022 BMW International Open, where he also made a long putt to win.
Li finished the tournament on 16 under par to claim a one-shot victory over Neergaard-Petersen, who carded eight birdies and one bogey in his 65.
England’s Brandon Robinson Thompson was in third on 13 under after his final-round 70.
After his winning putt, an emotional Li said: “It means a lot. I never thought I could come back in this position.
“Even after yesterday, I felt like this morning was really stressed.
“I’m just so pleased I made that putt on the last. I’m just very glad I closed out nicely.
“I’m guaranteed to celebrate this one nicely. Definitely going to enjoy that.”
