Pearce's goal was the difference between the sides in Belfast
Belfast Giants stayed in the title hunt and moved level on points with second-placed Cardiff Devils by edging a 1-0 game at the SSE Arena.
It was a night where the goalkeepers were dominant as both Shane Owen and Ben Bowns produced tremendous displays.
The sides were deadlocked until Elgin Pearce finished smartly in period two.
The Devils dominated possession in the final period but could not find the net as Owen continued to frustrate them, as Giants held on to secure the victory.
Belfast remain third in the Elite League, but are now level on points with the Welsh side, with both teams on 50 points, seven behind leaders Sheffield Steelers.
The tightness at the top of the Elite League adds to the intrigue ahead of the second part of a double-header, with the Giants and Devils meeting again in Belfast on Sunday, 2 February at 16:00 GMT.