The Senators took a 1-0 lead midway through the second period when Mike Hoffman beat Cory Schneider with a wrist shot.
Michael Ryder tied things up for the Devils at the 17:26 mark of the second with an unassisted wrist shot.
Erik Karlsson notched the game winner for Ottawa in the shootout.
For the full recap, visit SNY.tv.
The Devils take on the Islanders Friday at 7:30 p.m. at the Prudential Center.