The Lions all but ended the Bulls chances of reaching the play offs when they beat the Pretoria side 32-21 in Johannesburg.
The victory ended a seven match losing streak for the Lions and a three match winning streak for the Bulls.
The Bulls missed the opportunity to get back into the play off places and remain in ninth place four points behind the lowest placed qualifier.
The Bulls have two matches remaining - against the Stormers and the Rebels and would need bonus point wins in both while also hoping that the Hurricanes and Highlanders don't accumulate any further points.
The result also makes the Sharks the South African Conference winners.
The Lions enjoyed 22 points from the boot of flyhalf Marnitz Boshoff who kicked two conversions four penalties and two impressive drop goals in a faultless goal-kicking display.
The Lions, playing with tremendous energy considering they have just flown back from Australia, produced some top-class counter-attacking rugby as they capitalised on a host of Bulls mistakes.
They also scrambled superbly in defence and a Bulls side missing the composure brought by the rested Victor Matfield looked rattled throughout the game.
The Lions showed their character from the outset as they recovered the ball from a lost lineout in the second minute and Boshoff claimed his first drop goal.
While the Lions struggled in the lineouts, they gave the Bulls a working over in the scrums and the visitors were penalised in that set-piece in the fifth minute, allowing Boshoff to slot a penalty.
Bulls flyhalf Jacques-Louis Potgieter missed a penalty in the seventh minute and was then penalised for not releasing in the tackle, Boshoff stretching the Lions' lead to 9-0.
The Bulls fought their way back into the match, however, their big ball-runners making inroads, and two Potgieter penalties narrowed the gap to 6-9 at the break.
The Bulls replaced loosehead prop Dean Greyling in the first scrum of the second half, bringing on Morne Mellet, and immediately won a penalty, allowing Potgieter to level the scores in the 45th minute.
But the Lions regained their inspiration straight afterwards as Bulls lock Grant Hattingh failed to claim the kickoff in a key moment.
The ball bounced into eighthman Warren Whiteley's hands and the Lions captain quickly fed centre Alwyn Hollenbach, who went blind before jinking inside to score a fine try.
Boshoff added the conversion and the Lions continued to separate themselves from their error-strewn opponents as the deadeye flyhalf kicked another drop goal and a penalty before flank Warwick Tecklenburg scored a try after a thrilling break by replacement Elton Jantjies.
He sent Stokkies Hanekom, who had a dream game, haring towards the line with a brilliant flip inside, but the outside centre was stopped just short of the line before popping the ball up for Tecklenburg to score.
There was some cheer for the flat Bulls as replacement centre William Small-Smith and flank Jacques du Plessis scored late tries, but Boshoff provided the fairytale ending for the Lions with an 80th-minute penalty after a scrum infringement.
While the Lions have climbed off the bottom of the log with the victory, the Bulls are now in ninth place with 33 points and locked in a dire struggle with the Highlanders (38), Hurricanes (37), Western Force (36) and Chiefs (35) for a place in the top six and progression to the playoffs.
Final Score Lions 32 (9) Bulls 21 (6)
Tries - A.Hollenbach, W. Tecklenburg
Pen - M.Boshoff 3
Con - M.Boshoff 2
Drop - M.Boshoff 2
Tries - W.Smith, J.du Plessis
Pen - J.Potgieter 3
Con - J.Potgieter
Referee: Craig Joubert
Assistant Ref 1: Lourens van der Merwe
Assistant Ref 2: Sieg van Staden
TMO: Marius Jonker
15. Coenie van Wyk ,14. Courtnall Skosan ,13. Stokkies Hanekom,12. Alwyn Hollenbach,11. Chrysander Botha ,10. Marnitz Boshoff,9. Ross Cronje ,8. Warren Whiteley (c),7. Warwick Tecklenburg ,6. Jaco Kriel,5. Franco Mostert ,4. Rudi Mathee,3. Ruan Dreyer ,2. Robbie Coetzee,1. Schalk van der Merwe
16. Armand van der Merwe,17. Corne Fourie,18. Jean Marais,19. Willie Britz ,20. Derick Minnie,21. Faf de Klerk,22. Elton Jantjies,23. Deon van Rensburg
Jurgen Visser , Akona Ndungane, JJ Engelbrecht, Jan Serfontein, Bjorn Basson, Jacques-Louis Potgieter, Francois Hougaard, Jacques Engelbrecht, Jacques du Plessis, Jono Ross, Grant Hattingh, Flip van der Merwe (c), Marcel van der Merwe, Callie Visagie , Dean Greyling
Replacements: Bongi Mbonambi, Werner Kruger , Morne Mellett , Paul Willemse, Wimpie van der Walt,, Piet van Zyl, Louis Fouche,, William-Small Smith