Jokic finished with a triple-double at the Scotiabank Arena, with 23 points, 15 assists and 11 rebounds and put Denver ahead with his first free throw.
The remaining two were sunk, and Kyle Lowry missed a three-pointer on the buzzer as the Raptors lost their first game in nine.
Steph Curry, recently back from an injury layoff, had 30 points as the Golden State Warriors beat the Atlanta Hawks 128-111.
Curry outscored the Hawks in the first quarter by himself – 18-17 – as the Warriors condemned the Hawks to their third straight defeat.
Julius Randle had 37 points, but the New Orleans Pelicans fell to the Los Angeles Clippers 129-126, with Tobias Harris sinking two free throws at the death to secure the win.
Elsewhere, new signing Alec Burks scored on a dunk with three seconds left as the Cleveland Cavaliers beat the Brooklyn Nets 99-97 and the Washington Wizards prevailed against the New York Knicks 110-107.
Karl-Anthony Towns had 24 points and 11 rebounds as the Minnesota Timberwolves beat the Houston Rockets 103-91 and the Oklahoma City Thunder ended the Detroit Pistons' five-game winning streak 110-83.