The final round began with Reed holding a three shot advantage over Rory McIlroy but after the Northern Irishman's challenge faded, Reed held his nerve to drain a four-foot par putt at the 18th to give him a final round one-under 71 and end Fowler's hopes of a playoff.
Fowler, who remains without a major title, had put the pressure on his US Ryder Cup team mate with a back nine charge that featured four birdies including one at the last but his 67 would not be enough.
Before Fowler took up the challenge of overhauling Reed, it was Spieth leading the chase with a sizzling eight-under 64 that matched the lowest final round ever at a Masters to finish two shots back.
It was another remarkable Masters performance by the 24-year-old American, who has now won the Green Jacket once, finished runner-up twice and settled for third on Sunday
