The Leafs, trailing 2-1, got the equalizer on Jay McClement's unassisted tally just 39 seconds into the final frame.
MacArthur netted the decisive score 7 minutes later and Phil Kessel added his first home goal of the season to complete the comeback victory.
Nazem Kadri also scored and James Reimer made 28 saves in Toronto's sixth win in nine contests.
Marek Zidlicky tallied twice for the reeling Devils, who dropped a fifth straight game.
New Jersey's Johan Hedberg made 19 stops.
2014: The Year in Music [PHOTOS]