Melvin Buckley had 10 points and Solomon Jones added nine points and 13 rebounds for the Bulls (6-5).
James Holmes' 3-pointer from the left wing gave South Florida a 52-50 lead with 30 seconds remaining. Loyola Marymount turned the ball over then missed a 3-pointer with less than 5 seconds to go, and South Florida's Chris Capko made two free throws to seal the victory.
Chris Ayer led Loyola Marymount (3-9) with 12 points and Matthew Knight added nine.
South Florida led 34-19 at halftime and by as much as 16 early in the second half. Loyola Marymount then outscored the Bulls 23-7 over the next 10 minutes, tying the game at 42 on John Montgomery's 3-pointer with 9:48 remaining.
Ayer's hook shot with 1:47 left gave Loyola Marymount a 50-49 lead, the Lions' first lead since they went up 2-0 to open the game.
USF Bulls Defeat Loyola Marymount 54-50
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