The Mavericks (3-1) beat Ohio State 73-68 on the road on Friday night.
Jalen Jones was 7 of 13 from the floor for 15 points and Erick Neal added 13 as the Mavericks rolled to a 31-21 lead at the break.
Memphis charged back to take a 50-44 lead following Avery Woodson's 3-point jumper midway in the second half. The Mavericks retook the lead 58-55 with 3:09 left following Nathan Hawkins' layup and Neal's three free throws.
Hervey hit two straight jump shots and slammed home a dunk with 18 seconds left to seal the win.
Ricky Tarrant Jr. had 21 points for Memphis (2-2).
The Mavericks made just 26 of 78 shots from the floor, but the Tigers only got 16 of 54 to fall.