Mirza becomes the first Indian woman to reach number one in either singles or doubles.
The top-seeded Indo-Swiss pair blew away Casey Dellacqua and Darija Jurak 6-0, 6-4 in the final of the US $731,000 clay court event.
The duo have now won all three tournaments that they have played in which includes Indian Wells and the Miami Masters titles.
Mirza takes 470 points from the win to take her tally to 7965 as she jumped past Italy's Sara Errani (7640) and Roberta Vinci (7640) to top the rankings.
Hingis is ranked at number four.