The moment of magic produced by DeChambeau, playing in the final pair alongside fellow overnight leader Homa, was the last twist on a slow burner of a day at Augusta.
For a long period, as the leading players were approaching the turn, there was little sign of the drama about to unfold.
With DeChambeau making an early bogey, Scheffler moved into the outright lead ahead of Homa after escaping punishment for early errors.
Chipping in for birdie on the first was the perfect start for the 2022 champion and he added another birdie with a monster putt on the third.
At that point it seemed Scheffler, who won two of his three previous tournaments, would move clear of the field.
However, more mistakes – a double bogey on 10 after missing a two-foot putt, followed by a bogey on 11 – was a curveball which allowed his playing partner Hojgaard to take over at the top.
Hojgaard had never even played in a major, let alone led one, until three straight birdies around the turn completely changed the picture.
But it proved to be a brief lead. As Hojgaard faltered, Scheffler rallied with an eagle on 13 and another birdie on 15.
A bogey on 17 dropped Scheffler alongside Morikawa, before a birdie on the last re-established the 27-year-old’s lead as he ultimately continued his majestic form.
Morikawa, the 2021 Open champion, had made a fast start with three birdies on the opening three holes and finished with 10 straight pars while the chaos was unfolding around him.
The US Ryder Cup team-mates will be out in Sunday’s final pairing, teeing off at 19:35 BST.