The table-toppers, Delhi Waveriders, took the lead in the third minute with striker Yuvraj Walmiki, who deflected the ball at the goalmouth after skipper Sardar Singh got an initial touch.
The hosts managed to equalise seven minutes later through a combined effort from Bharat Chikkara and captain Glenn Turner.
It was the visitors who surged ahead in the 11th minute with another brilliant field goal, when Rajpal Singh sent the ball soaring past the diving Mumbai goalkeeper P R Sreejesh.
The Waveriders took the lead once again in the next minute with a brilliant reverse hit from Akashdeep Singh.
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The last edition's runner up took a two-goal advantage over the hosts with a magnificent solo run from Rajpal, who sprinted from the mid-field to the D and then took a second touch to sound the board in the 54th.
The Mumbai Magicians will next play Kalinga Lancers here tomorrow while this was the Waveriders' last match in the league stage.