Grazioli was on target to put the Bees ahead against his former club
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Leaders Barnet had Ismail Yakubu to thank after his late header saw off an unlucky Stevenage side at Underhill.
Anthony Elding and Dino Maamria went close with headers as the visitors made most of the early running.
But Giuliano Grazioli stunned his former club when he lobbed Andy Woodman after Simon Clist's long ball.
Simon Weatherstone levelled from Brian Quailey's cross, and the latter headed Jon Brady's cross just wide before Yakubu clinched victory from a corner.
Barnet: Tynan, Batt, Yakubu, King (Champion 45), Clist, Lopez (Graham 67), Bailey, Sinclair, Strevens, Roache (McBean 84), Grazioli. Subs not used: Gore, Reilly.
Booked: Champion.
Goals: Grazioli 33, Yakubu 87.
Stevenage: Woodman, Rogers, Quinn (Hunter 89), Goodliffe, Gregory, Brady, Bulman, Weatherstone, Boyd, Elding, Maamria (Quailey 36). Subs not used: Warner, Hocking Farrow.
Booked: Quinn, Boyd, Brady.
Goals: Weatherstone 49.
Att: 3,520.
Ref: G Sutton (Lincolnshire).