Terrence Ross scored 18 points and Jonas Valanciunas had 13 points and nine rebounds as the Raptors (15-15) snapped Indiana's five-game winning streak and improved to .500 after 30 games for the first time since Jan. 6, 2010.
The Raptors have won eight of 10 games since Dec. 13, when the majority of the players acquired from Sacramento in the Rudy Gay deal made their Toronto debuts.
Roy Hibbert fouled out with 16 points and Paul George had 12 for the Pacers, who recorded a season-worst 23 turnovers. Indiana had won nine of its previous 12 meetings with Toronto, including four straight north of the border. Danny Granger scored 11 points for Indiana.
Hibbert picked up his fifth foul less than 90 seconds into the fourth quarter, and the Pacers couldn't hold a one-point lead without their big man. Greivis Vasquez hit a 3 on Toronto's next possession, giving the Raptors a 69-67 lead.
David West tied the score at 74-74 with a jump shot at 6:58, but Toronto answered with six straight points, four from DeRozan, to open an 80-74 lead at 5:23. West stopped the run by making one of two from the free throw line, but Lowry hit two free throws at the other end and, after Hibbert checked back in, DeRozan nailed a jumper to put Toronto up 84-75 with 4:22 left.
Hibbert fouled out with 3:25 left and Toronto scored five of the next seven points, two on a fast break layup by Lowry, to lead 91-79 with 2:00 remaining.
Ross and DeRozan both scored seven points in the first quarter while Lowry had five points and seven assists as the Raptors led 26-18 after one. Hibbert scored 10 of Indiana's points in the quarter.
Toronto led 32-23 with 7:55 left in the second quarter, but Granger scored seven points as the Pacers closed the half with a 21-8 run to take a 44-40 lead. The Raptors missed nine of 15 field goal attempts in the second.
Toronto battled back in the third, tying the score at 63 on a dunk by Tyler Hansbrough with 1:08 left. After a turnover by George, Raptors guard John Salmons hit a 3, capping a 9-0 run to end the quarter and putting Toronto up 66-63.
NOTES: Lowry's career-high in assists is 18, set twice. ... Indiana's previous turnover mark was 21, set in a Dec. 10 win over Miami.