The Scarborough Sunday League team made a flying start and took the lead after only two minutes when Dan Freer charged a ball down and the ball ricocheted off him and into the bottom corner of the net.
Newlands then hit the inside of the post with an effort, but it rolled on the line and Acklam managed to clear the ball.
After about 20 minutes Acklam started to gain a foothold in the game and they levelled when Newlands keeper Callum Myers came out for a cross and his punch was misplaced and the ball fell into the path of one of the Acklam players, who levelled the scores.
Acklam then gained control of the game and managed to take the lead before the half-time interval.
Boss Dan Sheader said: "I had a strong word or two with the lads at half-time as we need to be much better in the second half.
"They did me proud as we dominated the second half and never looked back."
Newlands levelled the scores when a Ryan Link cross was deflected into the net by an Acklam defender.
The Scarborough side were forced into making changes due to knocks to Ben Luntley and centre-back Shane Hammond, replaced by Tris Mustoe and Ryan Collings, and both impressed with Collings having an especially commanding display.
Newlands grabbed victory in the second minute of injury-time, as Brad Rowley lobbed in superbly from the edge of the penalty area, securing the county cup for the Scarborough side.
Jack Hakings was man of the match for an excellent display in the middle of the park for the whole 90 minutes, but Sheader was quick to praise his entire squad for their effort in the second half.
Sheader added: "Overall we deserved the win as we were the better side, it may have been harsh for Acklam to have lost out in such a way so late on but we deserved to twin the cup.
"It was a great second-half performance by the lads, it may well be the last-ever game for me as manager as it sounds like there may well be no Scarborough Sunday League next season by the looks of it.
"If that is the case winning the county cup is a great way to sign off, it is the biggest cup you can win in North Yorkshire and is great to win it especially after losing the cup final to Trafalgar last week when we were the better side.
"If this is my last game I would like to say what a pleasure it has been to look after the team for the past seven years.
"I would like to say a big thank-you to the Dolan family, especially Ben and his mum and dad, for all their help this season.
"I would also like to thank Mr and Mrs Hakings at the Newlands for all the hard work they put in for us."
Newlands team: Callum Myers, Jack Brown, Shane Hammond (Ryan Collings), Liam Mintoft, Kile Fields, Ryan Link, Jack Hakings (man of the match), Ben Luntley (Tris Mustoe), Dan Freer, Brad Rowley, Christopher Marson.