Although the visitors scored first and last in this entertaining five-goal encounter, the home side scored the three in between as they made a welcome return to winning ways.
Richard Butcher fired County into a 16th-minute lead, but they were ahead for just four minutes as Moses Ashikodi quickly restored level terms.
Seven minutes before the break top scorer Grant Holt blasted home his second penalty in four days to put Paul Simpson's men ahead - and the points looked safely secured when skipper Graham Coughlan added a third with less than 20 minutes left.
But five minutes from time a fine individual goal by Jonathan Forte put County back into contention but, despite a couple of late scares, Shrewsbury held firm to secure a crucial victory.
Unchanged from the side that conceded a late equaliser to Exeter City four days earlier, Shrewsbury were quickly onto the attack and in the fifth minute Ashikodi flashed a shot inches wide.
But it was the visitors who produced the first decisive strike and, 60 seconds after firing a shot just over, Butcher drilled home a low 20 yarder to put the Meadow Lane outfit ahead.
But just four minutes later, the Shrews were level. When Ben Davies' free-kick caused havoc in the Notts County penalty area, Ashikodi was on hand to score his first goal for the club following a recent move from Millwall, nudging the ball into the net from close range.
Shrewsbury continued to press and were finally rewarded in the 38th minute when Holt was sent crashing in the box as he jumped for a Davies centre. From the ensuing spot-kick Holt fired home his 23rd goal of the season.
After the break the home side continued to attack with purpose and, despite keeping Notts keeper Kevin Pilkington busy, were denied a third goal until the 71st minute - when central defender Coughlan rose to head home a Davies corner.
In the 85th minute Forte skipped past two challenges and neatly fired past Luke Daniels to give County some hope, but the home side withstood some late pressure to keep within striking distance of the play-off places.