A goal behind at the break, strikes from Eugene Nyarko, Michael Dacosta Gonzalez and Koby Mottoh turned the game in the Cherries favour.
The Blades got a late consolation through Sam Aston, but Alan Connell’s side took the three points back to Dorset.
The visitors to Sheffield thought they had opened the scoring with 12 minutes on the clock but Nyarko was offside when he turned home Mottoh’s blocked shot.
Mottoh drew a save out of Liam Hall with another deflected effort but it was the hosts who took the lead after 25 minutes.
Chris Eadie went through on goal and finished past Kai Crampton to hand the Blades the lead.
Hall was called upon again to deny the Cherries shortly before the break from a Dacosta Gonzalez effort, but the hosts held their lead into the break.
Less than a minute after the resumption, Bournemouth were back on level terms.
Zac Christie played a good long ball to Nyarko, who took the ball into the box and finished well.
Eight minutes after the break, the Cherries took the lead, as a short corner routine involving Christie and Dacosta Gonzalez saw the latter power into the bottom corner to complete the turnaround.
Four minutes later, it was 3-1. Remy Rees-Dottin crossed from the left and picked out Mottoh, and he fired home.
While Aston got a goal back for the hosts seven minutes from time, the Cherries saw out the victory and made it back-to-back wins in the Professional Development League.