Full-back Calum Chambers passed up an opportunity to restore the Gunners' lead six minutes before the break when unlike Lacazette, he could not stretch far enough to direct Mustafi's headed cross on goal.
So with the Magpies breaking their Arsenal hoodoo, who were the winners and losers?
Arsenal pressed hard for an equaliser but Newcastle defended stoutly to claim a fourth successive victory.
Premier League clubs voted on Friday that the much-debated video assistant referee system will not be used in the competition next season as testing continues in cup games.
After the game, which was decided by goals from Ayoze Perez and Matt Ritchie, Lineker took to his personal Twitter account to pay credit to the Spanish boss, stating: "Well played Rafa Benitez".
Matt Ritchie scored the victor as the Magpies went past the 40-point mark, 13 clear of the relegation zone.
The loss left Arsenal in danger of dropping below seventh-place Burnley with a month left of the season.
Arsenal manager Arsene Wenger admits his team are in a "negative spiral" after they lost a fifth consecutive Premier League away game at resurgent Newcastle.
Cardi B Sets New First-Week Streaming Record on Apple Music
When asked if he listens to the newfound chart topper, he wasted no time in pointing out that he loves her breakout smash, " Bodak Yellow ".
Iwobi lashed narrowly wide from long-range as Arsenal chased their first away point of 2018.
It was the away side who emerged the more alert of the two at the start of the second half as they probed for space in between the Newcastle defence.
It was Arsenal's 11th defeat of the season.
Newcastle are nearly certain of being a Premier League club next season.
Defeat on Tyneside means Newcastle have won on home turf against Arsenal for the first time in over a decade, and they were certainly good value for their win, as Benitez's side played with heart and flair.
The Emirates outfit will play Atletico Madrid in the Europa League semi finals for a chance to play Champions League football next season if they emerge champions.
His recent form has been insatiable and should the midfield marvel continue to impress on Tyneside, then a place on the plane to Russian Federation for the World Cup this summer may not be out of the question for Shelvey. The 18-year-old midfielder might have marked his debut with a first-half goal, but fluffed his lines with just goalkeeper Martin Dubravka to beat when he miskicked from Lacazette's inviting pass.