Phatak defeated five-time MLC and NCP nominee Vasant Davkhare, the Deputy Chairman of the state Legislative Council.
The poll to elect an MLC from Thane local bodies constituency was held on June 3.
As many as 99.72 per cent voters (1,057 of 1,060 voters) cast their votes.
(Reopens BES5)
District Election Officer Mahendra Kalyankar declared Phatak elected after the counting, which started at 8 a.M. today.
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Phatak, who won by a margin of 151 votes, polled 601 votes as against Davkhare, who could garner only 450.
In the previous election, Davkhare had been elected unopposed.
Realising the importance of the election, NCP chief Sharad Pawar had himself taken part in the campaign along with state Congress leaders, but it failed to work in favour of Davkhare.