Miami won its third in a row, surviving a Toronto team that was hot from 3-point range for four quarters but then cooled off in the extra period.
Wade finished with 35 points while James had 31 points, 11 assists and 10 rebounds. James hit 12-of-23 from the field, but missed a potential game-winning shot as the buzzer sounded in regulation.
Each of these last nine meetings between these teams has been won by Miami.
Toronto converted 13-of-25 from beyond the arc during regulation play, but managed only 1-of-6 in overtime. It was the Raptors' third overtime game in a week.
Alan Anderson led the Toronto effort with 20 points.