Both golfers finished on 8-under-par for a total of 280 after the fourth round Saturday at the Moscow Country Club.
Thul was well placed to win the tournament in regular play with a birdie chance on the 18th.
The 34-year-old from Cologne narrowly missed the shot, forcing the sudden-death playoff between Thul and Reale. After they both parred the first hole, the Italian scored a birdie on the second to claim his second title on the PGA European Challenge Tour this season.
"I felt confident going into the playoff because I won my first tournament on the tour, the Canarias Challenge, in Las Palmas in May, also after sudden death," Reale said.
Ireland's Gary Murphy and Soren Kjeldsen of Denmark split third prize one stroke behind the leaders.
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