The 94th-rank Paszek reached the final by upsetting top-seeded Daniela Hantuchova in the semifinals, as well as third- and seventh-seeds Flavia Pennetta and Sara Errani in earlier rounds.
Schnyder, 29, had won 11 prior WTA singles titles including the last one in Cincinnati Open in July 2005.
Top-seeded Hantuchova reaches quarterfinals
Usain Bolt Is A Blanco