James poured in 40 points while adding 18 rebounds and nine assists.
Wade had 30 points, nine rebounds and six assists for the Heat, who rebounded from a Game 3 upset loss to pull even in their Eastern Conference semifinals series at two victories apiece.
James and Wade scored 38 of their points in the middle stages of the game after the Heat found themselves trailing 54-46 at halftime.
Danny Granger hit four 3-pointers en route to 20 points and Darren Collison added 16 off the bench for the Pacers, who will try to retake the lead in Tuesday's Game 5 at Miami.
2014: The Year in Music [PHOTOS]