The pair put on a massive 331 runs against New Zealand in Hyderabad with both batsman making their highest scores in limited overs internationals.
Tendulkar was unbeaten after a 186 containing 19 fours and four sixes against erratic Kiwi bowling.
Dravid hit 15 fours and two sixes on his way to 153 in the second wicket partnership.
The final total of 376 for two was the highest score by India in a one-day international.
The previous record partnership of 318 was set by Dravid and Saurav Ganguly against Sri Lanka at the World Cup in May.
Dravid scored 145 on that occasion as India hit 373 for six.
The same tournament also saw Dravid and Tendulkar make an unbroken stand of 237 against Kenya.
Hit after hit
In Monday's match at Hyderabad, Tendulkar won the toss and decided to bat first on a flat brown track that offered little help to the Kiwi bowlers.
After Ganguly was run out for four, the record-breaking pair went for their strokes from the start.
They were particularly severe on the medium pace of Chris Cairns, who conceded 73 in ten overs, and the inexperienced Chris Drum, who was smashed for 85 off nine..
Dravid hit consecutive deliveries from Cairns for a straight four and a huge six over mid-off to bring up his 100.
Tendulkar toyed with Drum, plundering 28 runs in one all-boundary over, including a huge pulled six and five fours.
Cairns had some consolation by finally breaking the stand, having Dravid caught by Stephen Fleming at mid-wicket as the tired batsman drove across the line.
New Zealand won the first match of the five-match series at Rajkot on 5 November.
Scorecard
India
Saurav Ganguly run out 4
Sachin Tendulkar not out 186
Rahul Dravid c Stephen Fleming b Chris Cairns 153
Ajay Jadeja not out 2
Extras (b-5, lb-8, nb-15, w-3) 31
Total (for two wickets, 50 overs) 376
Fall of wickets: 1-10, 2-341
Bowling: Cairns 10-0-73-1, O'Connor 7-0-61-0, Drum 9-0-85-0, Styris 10-0-58-0, Harris 3-0-27-0, Astle 3-0-20-0, Vettori 8-0-39-0
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