The 'Dores opened strong taking a 10-5 lead with a pair of 3-pointers by Wade Baldwin IV and Matthew Fisher-Davis.
A nearly four-minute scoring drought allowed the Razorbacks to take a 17-13 lead before another pair of threes by Fisher-Davis and Jeff Roberson put Vandy up by two.
Baldwin found a lane for a beautiful dunk that was followed up by a 3-pointer by Luke Kornet who returned to give the 'Dores some much-needed help after suffering a knee injury.
Turnovers would plague Vanderbilt for much of remainder of the first half as Arkansas went into the locker room leading 40-32.
The second period did not start well for the 'Dores when a tip in and Arkansas 3-pointer gave the Razorbacks a 13-point lead.
Kornet tipped an offensive rebound off a missed Vanderbilt free throw and was fed the ball back for his second 3-pointer of the night to pull the 'Dores within one point.
At the end of regulation, with the 'Dores down by two points with 2.2 seconds remaining, Kornet inbounded the ball across the court to Jones who dribbled once to the basket for a dunk as time expired to send the game to overtime tied at 77.
Vanderbilt initially took an 80-77 lead off a Kornet free throw and a nice inside move by Jones but would fail to take back the lead after Arkansas regained it at the 2:27 mark.
The 'Dores had five turnovers in overtime to the zero committed by the Razorbacks in a night where Vanderbilt coughed it up 26 times allowing Arkansas 29 points off of turnovers.
Fisher-Davis had a career-high 20 points and Kornet returned to score 11 points with eight rebounds. Jones tied career-highs with 24 points and 15 rebounds for Vanderbilt.
The Commodores shot 50 percent from the field and from behind the arc and outrebounded their opponent 41-36.
Vanderbilt will travel to Columbia, South Carolina on Saturday, January 9th to face the #22 Gamecocks (14-0, 1-0 SEC).