Rahul Dravid (60) and VVS Laxman (61) were the other notable performers as India took complete control of the match with yet another solid batting display.
Yuvraj Singh (15) and captain Mahendra Singh Dhoni (16) were at the crease at stumps on day three.
With two days left in the game, India are the clear favourites to clinch the series 2-0 and record their first Test series triumph on New Zealand soil in 41 years.
As at Napier when he dropped anchor for 642 minutes for a match-saving 137, Gambhir batted close to six hours and was the hub around which the Indian innings revolved.
He was involved in two significant partnerships -- 170 for the second wicket with Rahul Dravid and 106 with VVS Laxman for the fourth -- after India resumed the day at overnight 51 for one in pursuit of their 100th Test win.
With his second century of the series, Gambhir has aggregated a massive 445 runs, clearly ahead of Sachin Tendulkar (344), Rahul Dravid (314) and VVS Laxman (295).
The pugnacious opener, who has garnered an awe-inspiring 1556 runs in 22 innings since making a return to Test cricket in July last year, was finally out trapped in front by Iain O'Brien, operating with the second new ball summoned after 87.1 overs.
New Zealand bowlers had to toil hard without much success on a Basin Reserve track which became easier for batting with not much swing or seam movement.
Captain Daniel Vettori and O'Brien were the most successful Kiwi bowlers with two wickets apiece for 88 and 77 runs respectively.
India began with an aggressive approach (119 runs in 30 overs in the first session), but moved into consolidation mode after they lost Dravid (60) and Tendulkar (9), early in the post-lunch session to Daniel Vettori.
Gambhir was in his elements, beginning with an authoritative straight drive off Tim Southee. A crisp cut of Southee and an elegant square drive off Chris Martin were followed by eloquent cover drives off O'Brien.
Aggressive until Tendulkar was smartly taken by Ross Taylor at first slip, Gambhir switched into cruise speed, picking runs at will to carve his third score of over 150 in the last 12 innings.
Dravid was as industrious and adventurous as Gambhir, a couple of times hitting left-arm spinner Vettori over the top.
Unlike the Dravid of 'The Wall' fame, he looked for runs, playing every shot in the book, a pull off Southee reflecting the aggressive mood he was in.
But his adventurism was to spell his doom, as an intended paddle sweep was taken brilliantly by Brendon McCullum. Anticipating what Dravid was trying to do, McCullum moved quickly to his left and took the ball on his chest even as the thin edge flew of Dravid's blade.
Laxman made amends for his first innings failure, making a stubborn but classy 61, before O'Brien found the wide gate between bat and pad to hit off stump. It was Laxman's 39th half century in 105 Tests.