Steelers are bang on form at home, this was their eighth straight win at the Arena.
They remain at the top of the table, equal with Cardiff Devils, but with five games in hand.
Coach Aaron Fox said while it hadn't been a perfect performance their now-traditional strong finish had secured the points.
Filled with confidence, they hit the road to Dundee Stars tonight Sunday for a 5pm face off.
Steelers, victors in their previous seven home games and with Tanner Eberle and Jonathan Phillips back from injury, swept ahead after five minutes.
Vojtech Sointu opened their account, despatching low past Kevin Carr.
Sam Jones's delay-of-game penalty gave Notts a route back though with Matthew Lane beating Rok Stovanovic, the netminder who has filled the net for six of the last eight games, the equaliser created by Jeremy Welsh's unselfishness.
Panthers grabbed control and were unlucky when d-man Aaron Thow smacked the puck against Stojanovic's crossbar.
But Steelers power play clicked at 26:28. With Robbie Baillargeon called for hooking, Evan Mosey put Sheffield into a 2-1 lead after a precise Justin Hodgman pass from behind the net.
Nottingham, who had won four out of five League games since coach Tim Wallace was dismissed, almost leveled when Thow again struck the pipework.
But they succeeded in finding their second at the halfway point.
Sointu was in the box for slashing and centerman Matthew Myers tipped in J.C. Brassard's strike from the point.
The final period started with a third go-ahead Sheffield goal, Marco Vallerand drifting in from deep to make it 3-2.
The majority of the bumper crowd of 8,379 wanted Sheffield to try and make the game out of Panthers' reach.
And Robert Dowd did that with a backhanded goal at 43:23, Mosey accounting for his third point of the night.
Ellerby hit the post before the final hooter.