Chasing 197, Rajasthan completed their fourth win of the six matches to go on top of the points table whereas Deccan lost all their three matches in the tournament.
Brad Hodge of Australia smashed an unbeaten 48 from just 21 balls with six fours and two sixes to steer his team to victory in 19.4 overs.
The victory was based on a fine 62-run start provided by openers Ajinkya Rahane (44 off 31 balls) and captain Rahul Dravid (42 in 24 balls).
For Deccan, leg-break bowler Amit Mishra claimed three wickets for 32 runs.
Earlier, Deccan Chargers won the toss and batted first to plunder a big total of 196 for only two wickets in the allotted 20 overs.
Jean-Paul Duminy made an aggressive 58 not out off 26 balls with five sixes and three boundaries while Shikhar Dhawan hit 52 and captain Kumar Sangakkara scored 44.
This high-scoring match was telecast live by Pakistan’s premier sports tv channel Geo Super.