Malan scored 103 not out and stitched a 182-run partnership with skipper Morgan (91) to help England post their highest T20I total of 241/3, surpassing their previous-best of 230/8 against South Africa in the 2016 World T20.
Auckland hosts the fifth and final match on Sunday.
Courtesy of this partnership, Malan and Morgan now hold the record for highest T20I partnership for third wicket.More news: Brazilian judge orders release of ex-president
Malan's unbeaten century was the fastest by an Englishman in a T20 worldwide, beating by 12 balls Alex Hales' record of 60 deliveries and lifting England to 3-241, their highest score in the format. Even before this match, he had a fine T20I record - he had registered five half-centuries in his first eight T20I games - but probably needed to produce something special to remain in contention for selection once the likes of Jason Roy, Jos Buttler and Ben Stokes return to the side.
He now averages 57.25 in his nine matches to date and is only the second England batsman to make a T20 century after Alex Hales in 2014. And, having reached his half-century from 31 balls, he accelerated sharply to record his century just 17 deliveries later. The 32-year-old smashed 9 fours and 6 sixes during the course of his innings. This was the third time he hit seven sixes in a T20I innings.
Guptill hit a boundary in the next over, delivered by Sam Curran, but his innings came to a sudden halt on the next ball.More news: Mercury to make rare transit of the sun on Monday
After a blitzkrieg of boundaries by England's batsmen, Black Caps opener Martin Guptill has responded with a six out of the ground.
But that changed dramatically as Morgan and Malan took charge and blasted 20 off Santner's next over.
England's Dawid Malan lifts his bat as he walks from the field at the end of England's innings during the Twenty20 cricket match between New Zealand and England at McLean Park in Napier on November 8, 2019.More news: Watch Kanye West Announce His Plans to Run for Presidency in 2024
The England captain, twice caught off waist-high full-tosses which were subsequently adjudged no-balls, eventually holed out after his 41-ball blitz.