In an action-packed first-half the Glovers raced into a 2-0 goal lead courtesy of a Fela Olomola strike and Otis Khan penalty.
Christian Doidge grabbed a goal back for the hosts before Francois Zoko’s third goal in as many games made it 3-1.
In a pulsating affair, quick-fire strikes from Reece Brown and Charlie Cooper either side of the break chalked off Yeovil’s lead, before substitute Omar Bugiel completed the comeback late on.
Darren Way made one change from the side that saw off Accrington Stanley 3-2 a week previous in Sky Bet League Two.
Switching to a 3-4-3 formation, Tom James came into a three-man backline at the expense of Rhys Browne who dropped to the bench.
Having signed in midweek, forward Jordan Green took a seat amongst the substitutes, with Dan Alfei dropping out of the matchday squad to accommodate the new arrival.
Looking lively in the opening exchanges and stopping Rovers from enjoying their usual lion’s share of possession, the Glovers continued their goal scoring form inside the opening 10 minutes.
Zoko’s drilled effort from the angle could only be parried by home stopper Bradley Collins, with man-in-form Olomola on the spot to tap in from close range for his third goal in two games.
In a frantic opening 45 minutes Dale Bennett almost notched an immediate reply for the hosts as his shot from range whistled past the post, before Town won the opportunity to double their lead on 14 minutes.
James Bailey’s sweeping pass released Khan down the left and after jinking into the box, the fans’ favourite was tripped forcing referee David Webb to point to the spot.
Having missed a spot kick on the opening day of the season, Khan dusted himself off to send Collins the wrong way and double the visitors lead in a near perfect start in Gloucestershire.
Blown away by their Somerset opponents in the first 15 minutes, Mark Cooper’s side responded to falling two behind with a spell of pressure.
Liam Noble’s volley following a Luke James flick on drew Artur Krysiak into action, before Doidge grabbed a goal back for Forest Green on 23 minutes.
The lively Bennett’s tempting cross picked out the Rovers forward who headed home from six yards.
In an end-to-end affair, Luke James saw a header drop wide of the target as Forest Green searched for an equaliser, before Town restored their two-goal advantage with 35 minutes on the clock.
Almost unplayable in the final third, Khan worked space for a cross which Manny Monthe failed to clear, allowing Zoko to nod home at the back post.
With more goals looking like a certainty, the bumper crowd for the South West derby were treated to a fifth on the stroke of half-time.
Just minutes after Brown fired a 20-yard strike onto the post, the winger dispatched a free-kick on the stroke of half-time that the visitors felt was harshly awarded for a handball against Connor Smith.
Now only boasting a goal advantage, the Glovers were pegged back to 3-3 just four minutes after the restart.
Finding space 25 yards from goal, Cooper tried his luck and was rewarded as his low shot somehow squeezed under Krysiak and into the back of the net.
Making amends for his mistake the Polish stopper was at his best to get a hand to Cooper’s deflected free-kick past the hour-mark, before Town produced their best chances of the second half.
Substitute Rhys Browne watched a curling effort be parried away by Cooper having cut inside from the left, before firing a venomous strike into the ‘keeper’s arms from the edge of the box moments later.
As the game entered something of a lull as the final 10 minutes loomed, the entertaining affair was brought back to life by Bugiel.
James, off balance, could only head a cross up rather than away, allowing the German striker to bravely power a header over Krysiak and complete the comeback.
Desperate to avoid a second defeat on the road, Town threw caution to the wind as Green replaced Connor Smith for the closing stages.
The debutant looked lively after taking to the pitch but couldn’t produce a moment to remember as the Glovers succumbed to a Forest Green comeback in Gloucestershire.
Forest Green Rovers: B. Collins, Bennett, Fitzwater (Iacovitti 46’), Monthe, Laird, Noble, L. Collins, Cooper, Brown (Wishart 78′), Doidge, James (Bugiel 63’).
Bookings: Monthe 59’, Cooper 90′.
Subs not used: Russell, Marsh-Brown, Mullings, Evans.
Yeovil Town: Krysiak, James, Mugabi, Sowunmi (Browne 54’), N. Smith, Dickson, Khan, C. Smith (Green 84’), Bailey, Olomola (Surridge 67’), Zoko.
Bookings: James 69’.
Subs not used: Maddison, Davies, Santos, Gray.