The 1982 Masters champion, who competed in his final Masters in 2014, tied for second place despite lipping out a 3-foot birdie attempt on the ninth and final hole of the par-3 course. That gave the Walrus a 5-under-par 22 total, the same as Keegan Bradley.
Jimmy Walker not only won the Par-3, but set a record in the tournament that was first played in 1960. Walker shot an 8-under-par 19 that included a hole-in-one, one of nine aces made during the contest.
Stadler, who won an event on the PGA Tour Champions circuit as recently as 2013, made five birdies and no bogeys on Wednesday.
Stadler will be inducted into the Colorado Golf Hall of Fame next month.
For all the scores from the Par-3 Contest, CLICK HERE.