After a cagey start, Ajax took the lead in the 18th minute through Terror Fanteni, who netted with an excellent chip from out wide on the left.
The Urban Warriors however soon had problems as Thulani Hlatshwayo was given a red card for a karate-like challenge on Tony Tsabedze after 35 minutes.
But it was 10-man Ajax who scored next, through another very well-taken goal, this time it was Khama Billiat who found the back of the net with a curling shot from just inside the box – 2-0 after 41 minutes.
Bongi Macala then got the Peoples Team back in the game when he arrived at the back post to power home a header from Tsabedze’s cross.
There was still time for another goal before the break – Clayton Daniels pounced from 10-yads out to steer home Sameegh Doutie’s cross; 3-1 at half time to Ajax.
Santos looked an improved side after the restart and reduced the deficit in the 64th minute with yet another Vuyisile Wana super strike – a 20-yard left-footed effort that left Hans Vonk stuck to the spot.
Now gaining in momentum, the side in yellow made it 3-3 with 16 minuets to go when Jurie Basdioe powered a low drive past Vonk.
The closing moments of the game were enthralling with both teams intent on winning the match.
But it was Ajax who came out trumps as yet another stunning goal materialised, this time it was Thulani Serero, sizzling a shot into the top corner from 25-yards out to win what will be one of the most-talked about Cape derbies in history.