JASON Roberts came off the bench to score a spectacular injury-time winner for Rovers.
It was Roberts' first league goal of the season, and gave Blackburn the points following a superb second-half display.
Kevin Nolan's first-half opener separated the sides at the break.
But Christopher Samba headed an equaliser within 10 minutes of the break before Roberts powered forward to hit a 90th-minute winner in front of a crowd of 18,315.
Roque Santa Cruz, David Dunn, Steven Reid and Andre Ooijer were all included by Blackburn boss Mark Hughes.
Bolton were looking to chalk up their fifth successive home league victory and Ivan Campo had Blackburn on the back foot in the fifth minute with a long throw.
Davies got away from his marker and flicked the ball on but Ooijer was able to make the clearance.
Blackburn responded and David Bentley saw his 20-yard drive well taken by goalkeeper Jussi Jaaskelainen.
Then Campo rattled in a shot from distance that whistled over Brad Friedel's bar.
Bentley almost put Blackburn ahead in the 17th minute with a fine free-kick that just curled over the bar.
Blackburn, however, looked dangerous on the counter attack, with Bentley playing a prominent role in the first half.
However Bolton made the breakthrough after 43 minutes with a spectacular effort from Nolan.
The skipper hooked the ball over his shoulder from an acute angle following a crossfield ball from Joey O'Brien for his fourth goal of the season.
Blackburn started the second half brightly in an attempt to get the equaliser.
Ooijer picked out Santa Cruz with a good through ball in the 46th minute but his cross was cut out by Nolan.
Two minutes later Santa Cruz found himself clear in front of goal but Jaaskelainen parried his well struck effort to safety.
Blackburn drew level in the 53rd minute when Samba got on the end of Bentley's corner to head home at the back post.
Pedersen should have put Blackburn ahead in the 70th minute but dragged his effort wide from inside the six-yard area.
Blackburn were looking to seal all three points and Roberts replaced Benni McCarthy up front in the 77th minute.
Bentley almost put them ahead in the 83rd minute but Jaaskelainen managed to get a hand to his free-kick at the last minute.
Roberts sealed victory for Blackburn on the stroke of full-time when he raced on to a flick from Santa Cruz and saw his effort take a slight deflection off O'Brien.
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