Let $I$ be an ideal of a commutative Noetherian ring $R$. It is shown that the $R$-modules $H_I^j\left(M\right)$ are $I$-cofinite for all finitely generated $R$-modules $M$ and all $j\in {\mathbb{N}}_0$ if and only if the $R$-modules ${\mathrm{Ext}}_R^i(N,H_I^j\left(M\right))$ and ${\mathrm{Tor}}_i^R(N,H_I^j\left(M\right))$ are $I$-cofinite for all finitely generated $R$-modules $M$, $N$ and all integers $i,j\in {\mathbb{N}}_0$.