Parker, who finished with 11 rebounds, and Toliver wouldn't let the West lose for the fourth time in the past five All-Star games. Parker broke Swin Cash's All-Star game record of 22 points with a layup midway through the fourth quarter.
East coach Lin Dunn, who it was announced will be inducted into the women's basketball Hall of Fame next year, joked that there was a simple reason her team came up short.
"They had Candace and we didn't," she said laughing.
Trailing 100-98 with 30 seconds left, the East had a chance to take the lead, but Cappie Pondexter missed a 3-pointer. Parker got the rebound and Toliver sealed the win by hitting two free throws.
"I see it every day," Parker said of her Sparks teammate. "She's one of the best shooters ever. I was proud of the way she came out and played within herself."
Toliver, who was playing in her first All-Star game, scored 19 of her 21 points in the second half to help the West rally.
"Being here this weekend was a lot of joy," she said. It was humbling to be here but I feel like I belong."
The game also featured the return of referee cam, with Lamont Simpson wearing a device that looks like a pair of glasses. The veteran official caught a pre-game dance off between the East and West. Maya Moore floored the sell-out crowd by breaking out the old-school dance move the worm. She repeated the move when she was introduced as a starter.
Simpson admitted that after he first wore the ref cam in June, he received a lot of emails and texts from friends.
In the fourth quarter, Simpson approached Latta on the court and joked that "there's never been a technical foul in the history of the All-Star game."
In another first, the game was coached by two women for the only time in its 11-year history. Lin Dunn of Indiana coached the East and Reeve of Minnesota was in charge of the West.
Reeve had four Minnesota Lynx players on her West squad. Moore and Seimone Augustus were voted as starters. Reeve chose Lynx center Rebekkah Brunson to replace Griner in the starting lineup.
Minnesota point guard Lindsay Whalen was the first sub in for the West, replacing Taurasi. That produced four Lynx players, who also were on the 2011 All-Star team, on the court at the same time.
The four Lynx stars combined for 24 of the West's 29 points in the first quarter.