The couple, who had been dating for eight years, tied the knot in a traditional Indian ceremony at Mumbai's Grand Hyatt hotel, NDTV reports.
The actor posted a wedding photo on Twitter with the caption "MR & MRS DESHMUKH."
Shahid Kapoor was the first person to announce the wedding of his Chance Pe Dance co-star, saying: "And G is married !!!!!!!!!!!!!!!!! Unbelievable .:)."
The wedding, held in traditional Marathi style, was attended by personalities from both the film industry and the political world, including Sharad Pawar, Prithviraj Chavan, Praful Patel, Shah Rukh Khan, Abhishek Bachchan, Jaya Bachchan, Ajay Devgn and Kajol.
Hours before the wedding ceremony, Deshmukh tweeted a message saying: "Saw the last sunset as a Bachelor."
The actors first met while shooting Tujhe Meri Kasam in 2003.
The newlyweds will next be seen together in the love story Tere Naal Love Ho Gaya, which is scheduled to release later this month.