The result means that Ulster move up to fifth in the BKT URC standings, as the province look to finish the season strongly and secure play-off rugby.
Both sides scored five tries a piece, in the thrilling contest, with Tom Stewart, Reuben Crothers, Jacob Stockdale, Will Addison and Cormac Izuchukwu scoring tries for the home side.
For both Crothers and Izuchukwu, it was a first try in an Ulster jersey for the young talents.
Ulster's accuracy from the tee and the boot of Player of the Match, John Cooney, provided the winning margins on the scoreline.
Interim Head Coach, Richie Murphy, made some bold selections in his team, with young prop, Scott Wilson and flanker, Reuben Crothers, thrown in the deep end for a massive match.
Ulster also welcomed back the experienced half-back partnership of John Cooney and Billy Burns, while there were welcome returns for Stu McCloskey and Rob Baloucoune to help ease Ulster's injury issues.
The province's second home victory in successive weeks got off to a bad start, as the away side took an early lead through the 2024 Guinness Six Nations Player of the tournament, Tommaso Menoncello, who was found clear on the right wing, to score an unconverted try.
Ulster responded well, and got into the lead when a lineout in the Benetton 22 was worked wide to Cooney, who made a good line break and offloaded to hooker, Tom Stewart, from the deck. Stewart ran in for the first Ulster try of the evening. Cooney's first kick of six conversions on the night got Ulster into the lead at 7-5.
The stadium erupted when Cooney made a superb last-ditch tackle that sent Marin into touch. The tackle was a try-saver and the Ulster crowd loved the effort on display from the no9.
The score briefly swapped when Umaga added a penalty, but Ulster powered over for a second try through openside flanker, Reuben Crothers. Crothers picked up the ball from a ruck to crash over, following good work from John Cooney, who was stopped before the tryline. Cooney made no mistake from the kick.
Before the half, Jacob Stockdale got in on the act. The winger was in the mood all evening and looked dangerous in the half. He raced through to finish under pressure after a wonderful attacking move from Stuart McCloskey, who kicked the ball through on the left wing to find Stockdale, running on the inside. Cooney's conversion gave Ulster a 21-8 lead into the sheds.
HT: 21-8
Ulster began the half strongly, however were punished by the away side after a loose ball from Will Addison was plucked by Benetton, who scored an unconverted try through the dangerous full-back, Jacob Umaga.
In a blow, just minutes before the try, Jacob Stockdale had to come off for an HIA, which put an end to his impressive performance on the wing.
Addison made up for it minutes later, as Ulster immediately put on the pressure in the Benetton 22. Quick ball from a ruck found Mike Lowry, who pinged out a beautiful pass to Addison on the wing, who had the pace and strength to finish in the corner under pressure and secure Ulster's bonus-point try. Cooney's conversion stretched the lead to 28-13.
Kingspan Stadium was made to sweat after two converted Benetton tries from Toa Halafihi and Ivan Nemer made the contest a one-point game.
At a pivotal point in the contest, replacement lock, Cormac Izuchukwu, made a huge contribution, as he burrowed over at a ruck for his first senior Ulster try. Cooney of course, added the extras.
Cooney would slot home another penalty to give a little breathing room on the scoreboard, which was at 38-27.
Benetton pushed for a late try and despite a try-saving tackle from Robert Baloucoune that forced Umaga to knock on, the away side made a late score through their Argentine scrum-half, Albornoz. His kick was the last action of the game and Ulster had done their job.
The win saw Ulster grab five valuable points as the province look to secure top eight rugby and play-off rugby.
Richie Murphy's men will have a weekend off next week, before getting ready to face the Scarlets in Wales as they continue their play-off push.
Player of the match - John Cooney
A brilliant all-round display from the scrum-half who was 100% from the tee but also showed other skills to his game, with line breaks, quick ball and important defensive work. The standing ovation as he was replaced was a sign of how happy the Ulster support were with his efforts on the night.
Post-Match Reaction
What a night for these two 🙌
— Ulster Rugby (@UlsterRugby) April 26, 2024
Hear from Izzy and Reuben after they both scored their first senior tries for Ulster 👏 pic.twitter.com/UzAz0zjRYE
Scorers
Ulster
TRY: Tom Stewart, Reuben Crothers, Jacob Stockdale, Will Addison and Cormac Izuchukwu
CON: Cooney x5
PEN: Cooney x1
Benetton
TRY: Menoncello, Umaga, Halafihi, Nemer, Albornoz
CON: Albornoz x3
PEN: Umaga x1
Teams
Ulster:
(15-9): Mike Lowry, Rob Baloucoune, Will Addison (Marshall), Stuart McCloskey, Jacob Stockdale (McIlroy), Billy Burns, John Cooney (Shanahan);
(1-8): Eric O’Sullivan (Warwick), Tom Stewart (Andrew), Scott Wilson (French), Harry Sheridan, Alan O’Connor (C) (Izuchukwu), Dave Ewers (Jones), Reuben Crothers, David McCann.
Replacements: John Andrew, Andrew Warwick, James French, Cormac Izuchukwu, Greg Jones, Dave Shanahan, Luke Marshall, Ethan McIlroy.
Benetton:
(15-9) Jacob Umaga; Leonardo Marin, Tommaso Menoncello, Marco Zanon, Rhyno Smith; Tomas Albornoz, Andy Uren;
(1-8) Thomas Gallo, Giacomo Nicotera, Simione Ferrari; Scott Scrafton, Edoardo Iachizzi; Alessandro Izekor, Michele Lamaro (Capt), Lorenzo Cannone
Replacements: Gianmarco Lucchesi, Ivan Nemer, Tiziano Pasquali, Niccolò Cannone, Riccardo Favretto, Toa Halafihi, Alessandro Garbisi, Filippo Drago