Rothes maintained fourth spot by snatching victory from the jaws of defeat in a slow-burner which erupted with five goals in the final 15 minutes.
The Mackessack Park side twice battled back from a goal down before recent loan signing from Elgin City Darryl McHardy smashed home an injury-time winner.
Rothes manager Ross Jack said: “It wasn’t a great football spectacle but what a finish, it was Highland League football at its brilliant best.
“Strathspey twice went ahead but a goal from Brucie Milne and a great volley from Ally MacKenzie made it 2-2, all those four goals coming in a hectic seven-minute spell.
“We were on the front foot and pressing for the winner and it came in stoppage-time when Darryl scored. He absolutely lashed it with his left foot into the top corner from virtually on the penalty spot.”
Jags manager Gordy Nicolson said: “I’m really disappointed, especially as all three goals came from second phase balls at set-pieces.”
With quarter of an hour left substitute Liam Taylor headed Strathspey in front but four minutes later Bruce Milne fired home an equaliser.
Strathspey regained the lead through another header from Andrew Hardwick but within minutes Rothes were back on level terms with an Ally Mackenzie volley.
The home side saved the best for last when McHardy fired an unstoppable drive into the roof of the net from 12 yards deep into added-time.
Nicolson, meanwhile, is pleased to have signed striker Kris Duncan until the end of next season.
Duncan made his Highland League debut when he came off the bench for Rothes at the age of only 14 and has since gone on to also play for Keith, Forres Mechanics and Lossiemouth as well as the Speysiders.
Nicolson said: “Kris signed for us on Thursday night, his paperwork went through on Friday and that allowed us to put him on from the start against his first club, Rothes.
“Kris managed to secure his release from Lossiemouth so he came to us as a free agent and he did very well on his debut this weekend having trained with us for the
first time on Thursday evening.
“He comes with a lot of Highland League experience and he will definitely give us extra energy up front.”