Tavistock batted first and finished on 183 for 6 off their 20 overs.
Pick of the Hatherleigh bowlers was Josh Stacey with 3 wickets for 39 off his allotted 4 overs.
Hatherleigh notched 152 for 8.
Peter Jones was the pick of the bowlers taking 4 wkts for 22 off 4 overs. Alex Rose and David Downham both picked up a wicket each.
The umpires named Tavistock?s Phil Stephens as man of the match for his match-winning innings of 91.
Chairman of the competition John Gauler presented medals to both teams and the Lancaster Trophy to Tavistock skipper John Rich.
He thanked Chagford for providing the ground and laying on a good final.
The 2004 final will be at Tavistock on Friday, July 16. It is hoped more teams from the borough will enter.
The Hatherleigh side are pictured below.