The 35-year-old beat Germany's Paul Martens in the 155 km stage between Sortland and Harstad in northern Norway.
"It's Fantastic! I came here with two goals: to win one stage and to win overall, and I did both today," Hushovd told Norway's TV 2 at the finishing line. "It was hard, but it was insanely fun to win."
The race, which took place for the first time this year, was organised by the Amaury Sport Organisation, which also organises the Tour de France.
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Hushovd, arguably Norway's greatest ever cyclist, was in 2010 the first Norwegian to win a stage in the Tour de France.