A poor game looked to be headed to extra-time before the Burkinabe won a free-kick on the edge of the box.
Traore blasted the ball into the top corner to ensure bronze for his country, while Ghana had to settle for fourth place for the third time in the last four editions of the tournament.
The first half produced little in the way of chances, though there were opportunities on either side to score.
Thomas Partey missed a free-header and then put his follow-up onto the crossbar for Ghana, while at the other end Prejuce Nakoulma did all the hard work to get himself into a scoring position, but then fired wide.
Ghana continued to have the better of the chances, but were wasteful in front of goal and made to pay by Traore's moment of brilliance.
Burkina Faso: Koffi, Yago, Dayo, B.Koné, Y.Coulibaly (Malo 83’), B.Touré, Kaboré (Guira 88’), B.Traoré, A.Traoré, Nakoulma, Bancé (Bayala 73’).
Ghana: R.Ofori, Afful, Amartey, Mensah, Yiadom, Badu, Thomas, E.Ofori; Tekpetey (A.Ayew 70’), J.Ayew (Atsu 75’), Tetteh (Gyan 65’).