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Ponting ended a lean run with the bat to score 124 off 132 balls and guide the world champions to a daunting total of 317 for seven at the Sydney Cricket Ground.
India's run chase began badly when they lost four early wickets but a defiant hundred from Gautam Gambhir and a half-century from Robin Uthappa took them to 299 all out in the final over.
India's lower-order batsmen gave the tourists a glimmer of hope of pulling off a remarkable victory but fast bowler Brett Lee (5-58) polished off the tail by taking three wickets in his last four balls.
Gilchrist held five catches and completed a stumping to equal the world record for the most dismissals in a match by a wicketkeeper which he shares with four other players and has achieved on five previous occassions.
Andrew Symonds, who had also been struggling for form during the series, smashed 59 off 49 deliveries while opener Matthew Hayden made 54 as Australia's batsmen went on the rampage.
Ponting had managed only 64 runs in his previous six innings but returned to form in emphatic style.
He belted seven boundaries and a six to register his 26th one-day hundred, overtaking Sri Lanka's Sanath Jayasuriya into second place on the all-time list, behind Tendulkar (41).
VERBAL EXCHANGE
Ponting also become only the fifth player to score over 11,000 ODI runs before he threw his wicket away in the penultimate over, caught in the deep by Irfan Pathan.
Symonds struck six fours and two sixes in his innings before he was bowled by a slower ball from Ishant Sharma, triggering a verbal exchange between the pair as he left the field.
Ponting and Symonds added 100 runs in 52 minutes for the fourth wicket but their departures triggered a late collapse as Australia lost four wickets in the last three overs.
James Hopes and Lee were both run out at the non-strikers' end off the last two balls of the innings, leaving Mike Hussey stranded on 15.
Gilchrist, playing in his last series before retirement, signalled Australia's intentions to build a huge total when he blazed 16 off seven balls.
Hayden was run out just after reaching his half-century while Michael Clarke chipped in with a brisk 31.
India made a terrible start to their reply when Tendulkar was trapped LBW by Lee for two in the first over then they lost Virender Sehwag (17), Rohit Sharma (one) and Yuvraj Singh (five) in the space of 11 balls, all caught by Gilchrist.
Gambhir and Mahendra Singh Dhoni steadied the innings with a fifth wicket partnership of 98 before the Australians reasserted their control.
Dhoni was caught by Gilchrist for 36 then Gambhir was stumped for 113 after an impressive innings featuring nine fours and a six.
It was his fourth one-day hundred and his second of the series but his dismissal left India with little hope of winning desoite some lusty hitting from the tailenders.
Uthappa (51), Pathan (22) and Harbhajan Singh (20) all made valuable contributions but sacrificed their wickets in the frantic final few overs as the required run rate crept above 10 runs an over.
Australia are already assured a place in next month's best-of-three finals and India will join them unless Sri Lanka win the remaining two preliminary games. India play Sri Lanka in Hobart on Tuesday before Australia play them in Melbourne on Friday.

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Aussies are fault pickers -- and only point fingers at everyone and everything that looks and appears FOREIGN to them. Readers-- lets not forget the history of australia which is that of thieves and thugs.
What rubbish are you talking about? Australia is the most multi-cultural country in the world.Why do so many Indians leave India in the millions to get away from there? Readers- lets not forget India's history which is that of beggars, poverty and cast racism.
Why is the Indian media only writing about australian cricket team and their performance.While the australian media only promotes aussie players and bringing out faults about other teams especailly about Indian team.Th tv channels in australia we do not show cricket matches when australians are not playing saying that there majority do not watch these matches. So stop patronising the aussie players.
They can't promote the pathetic losing Indian cricket team can they?
The bare facts tell the true story, 9 games played against Australia (test,ODI,20/20), Australia 5 wins, India 2 wins, 1 draw and 1 no result. And lets not forget there has been 14 games played all tour with 3 wins for India.India may have the money for now but they do not have the players even with over a billion to choose from.
What are aussie players-- known for msledging,bullying,dobbing, cheating-- the game in Sydney was not won by them . WE as Indians are not petty minded like the aussies.
The whole world knows India are blackmailers, cheats and racists and the biggest sore losers in history...and they still can't play cricket. The game in Sydney was won by Australia as the history books show!
"icons" or "high-conns"? these guys can't win matches.
IF SACHIN RETIRE WHO IS GOING TO REPLACE HIM,KICK ALL SEHWAG,YUVRAJ,ROHIT,SREESANT,HARBHANJAN,AND BRING BACK DRAVID,GANGULY,KAIF,LAXMAN,PIYUSH,PLEASE STOP TAKING YOUNG BOYS IN INDIAN TEAM AS THEY AR NOT FIT TO PLAY IF THEY DESERVE TAKE THEM IF NOT KICK THEM OUT BY DOING THIS OUR TEAM INDIA WIL BECOME STRONG.THEN SAY THIS SLOGAN CHAK-DE-INDIA
TENDU SHOULD GRACEFULLY RETIRE.BECAUSE OF HIM INDIA IS LOOSING MATCHES.HIS EYE SIGHT IS FAILING.
Hey, what about Dhoni's counterpart using squash ball while batting? though it is not against rules to use the squash ball, is it within the rules to use it? Trickery and treachery of the English language!
Gichrist was investigated and found that using the ball was within the rules. Stop whinging and making excuses for your pathetic bunch of losers.
No mention of the India media about Dhoni's Gloves that have been taken away by the umpires for further investigation as they're not within the rules. Typical India again cheating... You are not bigger than the game...arrogant No. 1 wannabe's, but aren't good enough to ever be.
Aussie are fault pickers -- and only point fingers at everyone and everything that looks and appears FOREIGN to them. Readers-- lets not forget the history of australia which is that of thieves adn thugs
How come you do not give your name, or from where you are. Possibly an Aussie? One cheat recognizes another.And to think that you characters are willing to ditch your own country to come and rake in Indian money from the IPL. Must say you'll are so used to the Dole, that you'll do not mind sucking.
Hey Nat, the best team at sucking is India. They suck at playing, suck at playing within the spirit of the game, and most of all suck at making any good excuses up for their players pathetic ability! I agree with Brian, more Indians are abandaning their country to live elsewhere for what...more money! At least our cricketers only have to stay in India for 14 matches and can come home.
And yet some many Indians are immigrating to Australia, Aussies are only going to India for the money, Indians are moving to Australia for a better life, so who's ditching their country in record numbers.
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