Junior forward DJ Johnson's 12 points and eight rebounds paced the Owls in a low-scoring 45-42 American Midwest Conference loss to the Scots on Thursday night at Anderson Arena.
William Woods University (4-8, 1-4 AMC) suffered its second straight loss and fourth consecutive conference matchup.
Both teams had trouble converting on the offensive end in the first half as Lyon College built a 22-17 halftime lead.
The Scots increased their advantage to 33-25 with 11 minutes, 45 seconds remaining in the game, but Johnson's layup capped off William Woods' 10-2 run and tied the game at 35-all tie with 6:03 left.
A pair of free throws by Logan Bailey helped Lyon regain the lead for good at the 5:43 mark. The Owls closed within 43-42 on a Johnson basket with :06 to play, but the Scots sealed the victory on Devonte Young's free throws with :03 remaining.
Sophomore forward Klayton Kuschel and sophomore guards Ryan Hill and Jerel Wilhite scored five points apiece as William Woods shot just 37 percent (18-of-49) as a team.
Young tallied a game-high 16 points for Lyon (8-4, 5-1), which shot a lackluster 33 percent (13-of-40) from the field. Ben Wordlow contributed 12 points and pulled down a game-high 11 rebounds as the two teams battled to a 29-29 standoff on the boards.
The Owls play an exhibition at NCAA Division II Southwest Baptist University in Bolivar at 7 p.m. Saturday, Dec. 30.