Richard Hill grabbed a try on his return from injury as defending champions Wasps tumbled out of the EDF Energy Cup.
The England flanker missed 16 months since picking up a serious knee injury in the British and Irish Lions' first Test against New Zealand but showed no signs of rustiness with an all-action display.
The 33-year-old's try early in the second half capped a spirited Saracens fight-back after Wasps had dominated the first half.
And the result combined with Cardiff's win over London Irish means the Welsh side will progress from Pool B to the semi-finals.
Both teams were fielding weakened line-ups with Saracens' Nick Lloyd, Adam Powell and Tom Mercey all getting their first starts of the season while Wasps gave a debut to Tom French.
In torrential rain the teams struggled to find any early rhythm but it was Wasps who made the breakthrough on 13 minutes.
A break by centre Dominic Waldouck gave the visitors an overlap and Danny Cipriani passed for Tom Boyce to cross over.
Dave Walder missed the resulting conversion and Thomas Castaignede reduced the deficit with a long-range penalty after Wasps were penalised in the scrum.
Wasps continued to dominate and kept the home side pinned back inside their own half.
On the half-hour mark some great work by the pack produced Wasps' second try of the game.
Joe Ward's lineout set up a rolling maul metres from the Saracens try line and it was Ward who picked the ball up and dived over
Walder again missed his kick, this time the ball ricocheting off the post, and once again Castaignede made him pay when he slotted a testing penalty to make the half-time score 10-6.
Saracens turned the game on its head within 10 second-half minutes with two brilliant tries.
First Rodd Penney broke free down the left and despite being hauled down yards from the line hooker Matt Cairns was on hand to touch down.
Castaignede converted and then helped set up a glorious team move which culminated in Hill diving under the posts.
The French fly-half added the extras and then put the home side 23-10 to the good with a well taken drop goal.
Wasps were not finished though and Boyce grabbed his second try of the game when he crossed in the corner after a brilliant run down the left.
However, Walder's miserable run of luck continued when his second kick of the night rebounded off the post.
While Walder could do no right with the boot, Castaignede maintained his perfect record with a 50-metre penalty which dipped just over to round off the scoring.