Rahm emulated the late Ballesteros 40 years on from his second win at Augusta National Golf Club as he stormed to a four-shot victory on Sunday.
The 28-year-old had to overcome plenty of adversity on his route to glory, starting the week by four-putting the first hole before having to complete 30 holes on day four following weather delays.
After becoming the latest Spanish player to win the Masters, and adding a second Major Championship title to his collection, Rahm paid tribute to Ballesteros.
He said: "It's hard to put it into words. Obviously we all dream of things like this as players and you try to visualise what it's going to be like and what it's going to feel like.
"When I hit that third shot on the green, and I could tell it was close by the crowd's reaction, the wave of emotion of so many things just overtook me.
"I never thought I was going to cry by winning a golf tournament, but I got very close on that 18th hole.
"And a lot of it is because of what it means to me and to Spanish golf.
"It's Spain's tenth Major, fourth player to win the Masters and my second Major win; it's pretty incredible.
"And to play the way I did on Sunday, only one bogey in difficult conditions - hard to explain.
"A lot of pride and I am really proud of myself and what I did.
"This one was for Seve. He was up there helping, and help he did."
Starting the day four shots off the lead, 2021 U.S. Open Champion Rahm had cut that gap in half by the time he finished the delayed third round on Sunday morning.
And he made further inroads when round four started in the afternoon, wiping out the deficit inside four holes before taking a two-shot lead into the back nine.
Brilliant back-to-back birdies at the 13th and 14th gave Rahm a four-shot cushion and he parred his way home to sign for a closing 69 and finish the tournament on 12 under par.
Rahm, who was greeted by fellow Spaniard and two-time Masters Champion José María Olazábal after his round, was pleased with the way he handled his nerves throughout the day.
He said: "I was calm. I never got frustrated. I never really felt like anything was out of control. But obviously you're nervous. There's tension out there.
"I might have looked calm but I was definitely, definitely nervous out there. I'm glad that's the way it looked.
"That's what you strive for, right? You don't want to panic, and I never panicked.
"I felt comfortable with my game, and I had a plan to execute, and that's all I can do." DP World Tour