The match burst into life after nine minutes when the Bulls won a corner on the right. Theo Robinson's header from Sam Gwynne's cross was going into the net when Gary Croft's hand got in the way.
Referee Danny McDermid sent off the Lincoln defender and awarded a penalty which Robinson slid into the corner of the net for his ninth goal of the season.
But the Imps, instead of buckling, hit back to have much the better of the next period of play and it was no surprise when they levelled the scores on 21 minutes.
Hereford contributed to their own downfall, however, when goalkeeper Wayne Brown dropped a cross and Lee Frecklington cracked home a half-volley.
The Bulls gradually regained some measure of control and went back in front with an excellent strike by Trent McClenahan. The Australian raced on to a perfectly placed throughball from Ben Smith to crack home an angled 20-yard drive.
Toumani Diagouraga had a shot parried for a corner as Hereford went after a third goal at the start of the second period.
But it was Lincoln who almost hit back when Brown redeemed himself by puling off a superb save to thwart the lively Ben Wright.
With Dany N'Guessan a lively presence on the right, Lincoln were always a danger but their threat was finally ended in the 84th minute.
The ball ran lose in the area after a mazy run by Simon Johnson and skipper Smith found the ideal way to mark his 100th game for the Bulls, lashing home a shot from close range.
Lincoln were denied a late consolation when Louis Dodd's injury-time shot came back off the Hereford crossbar.