Fraser sealed his treble when he latched on to a Chris Angus through ball and lobbed the ball over keeper Fraser Hobday.
The 4-3 scoreline was harsh on a Huntly side that had battled back from 2-0 down inside half an hour to lead early in the second half.
A double from Fraser, the first set up by his brother James after 21 minutes and the second a tap-in after Lewis MacKinnon had volleyed a Chris Hegarty corner goalwards, had put Buckie in a commanding position.
However, the Jags switched off at two set pieces before half-time as Ian Cruickshank nicked in to grab two headed goals and haul Huntly level.
And when Dean Donaldson fired home just seven minutes after the restart, Huntly were on for a terrific result on the road.
However, within five minutes Buckie were awarded a penalty which was harsh on defender Gary Davidson who had the ball blasted at him from close range by James Fraser, with Davidson claiming it hit his chest.
Shaun Carrol fired the spot-kick in to level.
With six minutes remaining Buckie were handed a great chance to take the lead when Davidson was penalised for a foul on Angus inside the box.
With Carrol off the field through injury, Chris Hegarty was handed the penalty duty and he saw his effort saved by Fraser Hobday.
Just when it looked as if the game was heading for a draw, Kevin Fraser got in behind the Huntly defence to snatch a dramatic winner.
Buckie: Sim, Angus, Carrol (Wyness 64), MacRae, MacKinnon, Hegarty, Copeland (S Wood 52), J Cheyne, J Fraser, K Fraser, Napier (Taylor 75). Not used: D Wood, Scott, Munro, Strong.
Huntly: Hobday, Dorrat, Allan, McCulloch, Lawson, Davidsonm, Scoular, Cruickshank, Duguid (Silva 85), Donaldson, G McNamee (A McNamee 81). Not used: Croll, Murison, Pennycook.