Under his captaincy, India won the 2020-21 Border–Gavaskar Trophy in Australia. As of May 2021 Rahane ranks 27th in the ICC Test batting rankings, with a tally of 612 points.
In the 2023-24 Ranji Trophy season, Ajinkya Rahane led Mumbai to their 42nd title, defeating Vidarbha in the final by 169 runs, with Rahane himself contributing a crucial 73-run knock.
In the 2022-2023 Syed Mushtaq Ali Trophy (SMAT), Ajinkya Rahane led Mumbai to victory, showcasing his captaincy skills and strong batting performance, including 432 runs with a strike rate of 169.41.
Ajinkya Rahane captained Mumbai to a historic Irani Cup victory in 2024, ending their 27-year drought and securing their 15th Irani Cup title by virtue of a first-innings lead against the Rest of India.
In the 2022-23 Duleep Trophy, Ajinkya Rahane led the West Zone to victory, winning the title after defeating the South Zone by 294 runs in the final.
In September 2018, Rahane was named as the captain of Mumbai for the 2018–19 Vijay Hazare Trophy tournament. In October 2018, he was named as the captain of India C's squad for the 2018–19 Deodhar Trophy. He led the team to the final and played a crucial knock of 144* in the final to win the title.