The semi-finals were also played in Ranchi, where the hosts beat Uttar Pradesh Wizards 4-2.
Delhi Waveriders entered the final after beating Jamie Dwyer's Punjab Warriors 3-1 in the semis.
Ranchi Rhinos were led by 2012 FIH Player of the Year Moritz Fuerste of Germany.
In the third-place playoff between the losing semi-finalists, skipper VR Raghunath's four penalty-corner strikes helped UP Wizards stage a remarkable comeback from 0-3 down to beat Punjab Warriors 4-3 and claim bronze.
Mandeep Singh was central to Ranchi Rhinos winning the trophy as he scored 10 goals in the tournament and was second leading scorer behind Sandeep Singh of Mumbai Magicians.
Ranchi beat Delhi Waveriders 2-1 in the final at the Birsa Munda Hockey Stadium in Ranchi after being 0-1 down until the 55th minute.
Manpreet Singh scored the winning goal for Ranchi in the 63rd minute of the final played on February 10.