Agarkar snapped up four wickets for 15 runs while his younger teammate Kulkarni grabbed 5/32 to complete splendid match figures of nine for 56.
The home team pace duo finished off the lop-sided contest with their fiery first spells to help Mumbai regain the crown after a gap of two seasons by sharing six wickets equally.
The other wicket-taker for Mumbai was Abhishek Nayar (1 for 3).
Mumbai also earned the right to take on the Rest of India in the Irani Cup tie which is to be held at the same venue here from February 6-10. The home team also won Rs 2 crore as the prize money while Saurashtra got Rs 1 crore.
In Image: Sachin and Agarkar pose with the trophy