Chasetown started well and had two early chances for Jake Lovatt - one blocked by a defender and a header just wide.
Sheffield took the lead against the run of play though as Chasetown were opened up down the right and Mohammed Ibrahim netted from close range.
Sheffield were playing well on the counter attack but Chasetown continued to force chances and keeper Brett Souter twice saved Lovatt shots on target.
In first half stoppage time Sheffield doubled their lead with a Jack Browell free kick that flew in off the crossbar.
The Yorkshiremen made it three when a great run from Lewis Price fed former Scholar Joel Purkiss toe poked it home. Earlier the World's Oldest Football Club had also had a "goal" ruled out for offside.
Chasetown made all three subs in one go and changed the formation and this reaped dividends quickly as Chasetown got a goal back when Chris Baker rose at the far post and Muzzy Nduna netted from close range.
Within a minute Chasetown were right back in the game, sub Ryan Wynter forced a save from Souter and George Cater netted the rebound from an almost impossible angle.
The Scholars completed a dramatic comeback when Cater whipped in a delightful cross and Lovatt slid in to level the scores.
In stoppage time Jake Lovatt was fouled on the edge of the box and Josh Sedgley drilled the free kick home to win a dramatic game for the Scholars.
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# | Team | Pl | Pts |
1. | Basford United | 42 | 100 |
2. | Alvechurch | 42 | 85 |
3. | Frickley Athletic | 42 | 82 |
4. | Bedworth United | 42 | 74 |
5. | Chasetown | 42 | 73 |
6. | Stamford | 42 | 71 |
7. | Leek Town | 42 | 68 |