Fast bowler Phil Alley grabbed a career best 5 for 24 to wrap up the home side's win by an innings and 61 runs at the Sydney Cricket Ground.
New South Wales' 42nd Shield title, followed its victory in the Mercantile Mutual limited overs series two weeks ago.
Captain Phil Emery, who lost the services of leading players Michael Slater, Mark Taylor, Steve and Mark Waugh because of test commitments, praised his young side's resilience.
Tasmania, resuming at 92 for 5, crumbled to defeat in little more than an hour.
The visitors, appearing in their first Shield final, made 255 and 126 in reply to New South Wales' first innings of 442.
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