Danny Granger had 25 points and Darren Collison added 15 points for Indiana, which won for the fifth time in six games since Frank Vogel took over as coach for Jim O'Brien a week and a half ago.
Stephen Jackson had 27 for the Bobcats. He drew contact from Collison as he went up for a 30-footer in the final second, but no foul was called.
The Bobcats lost for the fifth time in seven games. Josh McRoberts' tip-in with 1:21 remaining gave Indiana a 104-102 lead.
Hibbert, who has played well since Vogel took over after struggling the previous two months, also added 10 rebounds and blocked two shots.
The victory moved Indiana (22-28) into eighth place in the Eastern Conference standings, just ahead of Charlotte (22-30). Indiana also won the season series against the Bobcats.
Granger made 9 of 17 from the field and all three 3-pointers, each coming when he had an open look after quick ball movement by the Pacers.
The Pacers led 81-66 after the third quarter, but Jackson made 3 of 6 3-pointers in the fourth quarter and the Bobcats tied it at 102 on his 15-footer with 1:37 to go.