ND declared their second innings at 435-9 today after James Marshall struck 156 not out, while Ish Sodhi made 51 and CD seamer Ben Wheeler took 5-91.
It meant CD needed 285 for an outright victory on the final day of the competition but when Otago were rolled over the result didn't matter and Central Districts could celebrate.
"We've played some great cricket all year and we got what we were after,'' CD coach Alan Hunt told APNZ.
"We've just got a group of guys who are suited to four-day cricket at the moment. We've gone through a bit of a development phase with some of the players and I think we are more suited to this longer form having obviously struggled in the HRV Cup. But this is a tough competition over 40 days and to win this is a great performance.''
Canterbury beat Auckland by nine wickets yesterday (fri) in the final round's other match to leave Auckland with the wooden spoon.
New Zealand's domestic cricket sides will now turn their focus to the 50-over competition, which gets underway on Tuesday.
Final Plunket Shield standings: Central Districts 132, Otago 122, Northern Districts 100, Wellington 89, Canterbury 88, Auckland 69.