The game looked over as a contest when veteran striker Kieran 'Tarzan' O'Brien had Bray 3-0 ahead on 61 minutes. But late goals by UCD's Robbie Martin and Pat McWalter had the issue in doubt right to the the final whistle.
After their eircom League Cup final defeat by Derry City at Belfield, this was another disappointment for the Students who had claims for a penalty turned down in the dying seconds.
Bray, who introuduced both striker O'Brien and midfielder Colm James from the side that lost 1-0 to UCD in a league game at the same venue last week, had a perfect start with a goal after 12 minutes.
Striker O'Brien played a perfect ball through to David Tyrell on the left and he supplied an excellent opening for Kevin O'Brien only to see his effort blocked by defender Mick O'Donnell.
Midfielder O'Brien took the resulting throw-in on the right and James sent over a precision cross to enable former ex-Manchester City man Paul Murphy to head home from ten yards at the near post.
But there was to be no denying Bray's superiority when they grabbed a second goal on 44 minutes. A mis-directed midfield pass from UCD man Gary Dicker put David Tyrell in the clear.
The winger took control of the ball before sending a magnificently struck dipping shot from 22 yards over the head of 'keeper Darren Quigley. It was a finish of the highest quality.
But O'Brien made no mistake on 61 minutes when shooting home eight yards at the far post after James had played a clever ball to Tyrell on the left and his precision cross set up the chance for the veteran striker to snap up Bray's third goal.
College kept themselves in the fight and pulled a goal back on 64 minutes with Martin getting the slightest of touches to deflect a low cross from McWalter into the net.
That seemed to spur on Pete Mahon's youngsters and the further reduced the deficit with just eight minutes remaining. Dicker skipped past a couple of tackles and McWalter was able to fire past O'Connor from eight yards.
Bray lived dangerously in the dying minutes when first Martin shot just over the top and then substitute Damien Dupuy appeared to be taken down inside the box by defender Michael Roche. But Dublin referee Paul McKeon allowed play to continue.
Bray Wanderers - O'Connor; Gifford, Tresson, McGovern (Roche 52), Keogh; Kevin O'Brien, James, Fox, Tyrel; Kieran O'Brien (Long 90), P.Murphy (Georgescu 87).
UCD - Quigley; Mahon, McDonnell, Shorthall, O'Donnell; Gannon (Kenna 45), Hurley, Dicker, McWalter; Byrne (Dupuy 76), A.Murphy (Martin 45) .