Sharma smashed 109 in 60 balls, his first IPL century, with 12 fours and five sixes as he mesmerised the packed Eden crowd while Herschelle Gibbs played a perfect second fiddle, remaining unbeaten on 66 from 58 balls.
Opting to bat, Mumbai Indians recovered brilliantly after the early loss of Tendulkar with Sharma in murderous mood while Gibbs made a fine debut in Mumbai colours. The duo put on an undefeated 167-run partnership (from 106 balls) for the second wicket.
It was season's second highest partnership behind David Warner and Naman Ojha's 189-run stand for Delhi Daredevils against Deccan Chargers.
Tendulkar had a forgettable outing after being dismissed by Shakib Al Hasan in the very second ball he faced. He was beaten by the spin as he had his backfoot in air to be stumped in the third over of the innings.
But the mighty blow hardly affected the Mumbai Indians with Gibbs and Sharma taking charge of the proceedings.
In the very next over, Sharma pulled Lee for a six over square leg and followed it up with a boundary with a fine slice through third man.
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Sharma smacked Shakib for 14 runs with two boundaries and a six over midwicket, something that set the tone for the evening.
It was raining boundaries and sixes as the sizzling Sharma dominated the Knight Riders bowlers at ease with an rray of copybook strokes.