Fryatt transformed Walsall, who bounced back after trailing to Adam Boyd's 11th goal of the season, to snatch the points with goals from Fryatt and Jorge Leitao as Hartlepool slumped to their ninth away defeat.
Walsall, a pale shadow of the side which paraded at Bescot last season, were embarrassing in the first half when very little went right for the Saddlers but later atoned due to Fryatt's performance.
Paul Merson was sadly off the pace in this spell and this was reflected in Walsall's general play. They lacked penetration as both Gary Birch and Leitao were unable to make any impact against Hartlepool's defence.
With Walsall making so many mistakes it was hardly surprising that Hartlepool took the lead in the 23rd minute as the Saddlers' defenders were left slipping and sliding.
Joel Porter made a determined run down the middle and as the ball ran loose Boyd was accorded a fine opportunity to lash his shot past Joe Murphy.
Hartlepool, the Jekyll and Hyde side of League One, with their contrasting home and away form could hardly believe their good fortune to run up against such a hapless Walsall side in the first half.
Mark Tinkler worked hard in midfield for Hartlepool as did Richie Humphries who tested Murphy with a blistering shot that sent out a warning which Walsall failed to heed.
With Merson invariably trying to dictate Walsall's play they lost their composure after Boyd's goal.
It was not an encouraging performance but the introduction of Fryatt at the start of the second half had an immediate impact on the Saddlers.
He produced some enthusiastic and skilful play which was rewarded with his 51st minute equaliser.
He set up the pass for Mark Wright to cross to the far post where Merson headed back for the onrushing Fryatt to force the ball home from close range.
A vastly improved Merson also had a hand in Walsall's second goal in the 69th minute when he sent Leitao racing clear to chip the ball over the head of the advancing Dimitrios Konstantopoulos.