Junior guard Remy Martin scored a game-high 30 points, adding three assists and four steals for ASU.
Redshirt senior guard Rob Edwards shot 61.5% from the field and made seven 3-pointers on his way to 23 points.
The Sun Devils (19-9, 10-5 Pac-12) built an early lead following tip-off thanks to a persistent defensive effort, forcing seven UCLA (18-11, 11-5) turnovers through the first 10 minutes of the game and nine total in the half, which led to six points on the other end for ASU.
The lead did not last long, however, as UCLA went on an 18-2 scoring run led by freshman guard Jake Kyman, who scored 19 points in the half and drained five 3-pointers.
Edwards was able to contest the damage from deep by connecting on four 3-pointers of his own to lead ASU with 12 first-half points.
Martin was also aggressive in the half, orchestrating the offense to finish with 11 points in the period. Rebounds were an issue as the Sun Devils were out-rebounded 22-14 and went into halftime with a six point deficit.
Martin was the key to keeping ASU within striking distance in the second half, scoring 12 of the team’s first 15 points in the period.
Edwards then helped mount a comeback, drilling two 3-pointers and scoring eight straight points to knot the game up 58-58 with just over eight minutes remaining.
The game then developed into a wild back-and-forth scoring affair. Five lead changes occurred in a five-minute stretch as a result of a tight offensive battle.
After junior guard Alonzo Verge Jr. sank two free throws to put ASU up by one with under two minutes left, UCLA redshirt freshman guard Tyger Campbell hit a clutch free throw as well to tie the game back up at 72.
Martin missed a 3-point attempt, which gave the Bruins the final possession with 16 seconds remaining.
With the Sun Devils pressuring on defense, Campbell dished to Jaquez Jr., who hit a step-back three near the top of the arc with less than a second on the clock.
With no timeouts remaining, ASU attempted an unsuccessful full-court heave, which sealed the victory for UCLA.
The loss snapped a seven-game winning streak for ASU while UCLA notched its sixth straight win and entered a tie for first place in the Pac-12 standings.
ASU will attempt to get back in the winning column when the team travels to the Galen Center to take on USC Feb. 29 at 6 p.m. MST.