Hanwood completed an almost perfect season to end Tolland's reign in the Leonard Cup but needed extra-time to do it.
The newcomers only lost once all season, to the Wolves, but need a big come back to win the grand final at Equex Centre on Sunday.
However they dominated the added minutes, scoring three goals to take a 6-3 win.
Airlee Savage scored three, including the last two in extra-time to help her side to victory.
However it was Kandice Bertoldo, who put Hanwood in front for the first time in extra-time with a strong header, who was named best in the grand final.
She was thrilled to help the team to a dramatic victory.
However it almost wasn't to be for Bertoldo, who missed six weeks with a hamstring problem, but she added plenty of calm to the side when she was out there.
"I wasn't even going to make the field because of an injury but I took charge with physio during the week and I finally made it," Bertoldo said. "As painful as it was I pushed through the game and it's pretty exciting."
After winning the last two titles it looked like Tolland were going to score a big upset to make it a hat-trick.
After being beaten 5-1 in the major semi-final, they led the minor premiers 3-1 at the break but couldn't hold on.
Two goals in the first 14 minutes in the second half levelled things up but neither team could find another goal in the regulation.
Tolland thought they had scored a late winner only to be denied by an offside flag.
However it didn't take long for Hanwood to go in front once the extra minutes were added in.
Bertoldo heading in a corner three minutes into extra-time to put Hanwood in front for the first time before Savage scored just before the first period ended.
Savage added another one in the second period of extra-time to seal the win.
Earlier in the game, Abbey Gillogly opened the scoring after 17 minutes when she float a ball over the head of keeper Tara Munro.
Romy Saunders then denied Savage but she couldn't stop Tara Cerrato after a defensive lapse after 26 minutes.
Tolland didn't let it stop them and six minutes later they were back in front when Joanna Balcombe found the back of an empty net before Elizabeth Read added to their lead with 10 minutes left in the half off a corner.
However it didn't take long for Hanwood to regather themselves after the break.
First Imogen Zuccato tapped the ball in from close range off a cross before Savage finished off a lovely ball from Ceccato.
However after the flurry of goals neither side side could add to their lead before Hanwood proved their strength in extra-time to take the premiership in their first season back in the competition.