Munde's nomination for the post was rejected on the basis of residential criteria.
His appeal against the rejection of his nomination was dismissed on Thursday, reports said.
Reacting on Pawar's election, former Indian Premier League (IPL) commissioner and cricket administrator Lalit Modi tweeted: "When good news comes. It starts to pour. Good to see the great Maratha Sharad Pawar back as President of Mumbai cricket Assoc. Battle on."
Pawar had headed the Board of Control for Cricket in India (BCCI) and the International Cricket Council (ICC) in the past.
--IBNS (Posted on 18-10-2013)