Electing to bat, Gujarat lost regular wickets and were bowled out for 209 in 49.1 overs at Madhavrao Scindia Cricket Ground.
Saurashtra completed the run-chase with just four wickets down and 21 balls to spare. Shah and Vasavada shared a 117-run partnership for the fourth wicket to take Saurashtra to their first victory of the tournament.
However, it wasn't enough to knock Gujarat off their top spot in the West Zone table.
For Saurashtra, Abhishek Bhatt was the most successful bowler taking three for 38, while Chirag Jani and Dharmendra Jadeja took two wickets each.
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Saurashtra, while chasing, were reduced to 61 for 3 in 15.2 overs before Shah and Vasavada joined hands and pull their team out of trouble.
Jasprit Bumrah, Kamlesh Thakor and Jesal Karia took a wicket each for Gujarat.
Brief Score:- Gujarat 209 all out off 49.1 overs (Venugopal Rao 27, Rakesh Dhruve 27, Abhishek Bhatt 3-38) Saurashtra 211 for 4 off 46.3 overs (Jaydev Shah 76, Arpit Vasavada not out 71, Jasprit Bumrah 1-27).