Ajax still lead second-placed PSV by 15 points, but the defeat ended the Amsterdam club's 19 game unbeaten run. The home side controlled the match in the first half, but only managed a single goal from Shota Arveladze and let the match slip when PSV's Arnold Bruggink and Gilles de Bilde scored either side of the break.
PSV remained ahead from then on, although strikes in turn from Bruggink, Ajax's Dean Gorre, PSV's Boudewijn Zenden and finally Ajax's Peter Hoekstra three minutes from time kept the tension going until the end.
Arveladze had a chance in injury time, while Frank de Boer had a penalty appeal turned down in the frantic final minutes.
In Italy's Serie A, an injury- time goal from Udinese's German striker, Oliver Bierhoff, condemned Internazionale to a 1-0 defeat on Sunday and shattered the Italian league leaders unbeaten record.
Inter stay top but they had their lead cut to a single point ahead of the champions, Juventus, who thrashed Empoli 5-2 thanks in the main to a hat-trick from Alessandro Del Piero. Improving Udinese remain third, a further three points back.Reuse content