If skipper Devendra Bundela's ton (142) yesterday stabilised Madhya Pradesh's innings, Saxena's effort on the fourth and final day of the match powered them past Hyderabad's first-innings total of 341.
Madhya Pradesh declared their innings after scoring 431 for eight in 191 overs at the Rajiv Gandhi International Stadium.
Saxena found the fence 15 times during his knock of 142 that came off 332 balls and consumed 405 minutes.
Starting the day at 265 for five with overnight centurion Bundela who was unbeaten on 106 and Saxena, batting on 61, Madhya Pradesh lost the former after he added 36 runs to his score, which also ended a 204-run partnership for the sixth wicket.
But by the time Vishal Sharma had Bundela caught off his own bowling, Madhya Pradesh had taken the crucial first-innings lead.
Bundela's knock included 12 fours and two sixes. He faced 437 balls and spent 582 minutes in the middle.
More From This Section
For the home side, there were two wickets apiece for Hanuma Vihari, Mohammed Khader and Pagaladala Naidu.
Hyderabad got a point from the match under the new BCCI rules.
Brief Scores:
Hyderabad: 341 all out and 8 for no loss in 8 overs
Madhya Pradesh 1st Innings: 431 for 8 decl in 191 overs (D Bundela 142, Jalaj Saxena 142).