Wiktionary
vb. (context idiomatic English) To suddenly win a contest when it appears that loss is a foregone conclusion, to succeed in an endeavor through reversal of fortune, skill, effort, or good judgment.
Usage examples of "snatch victory from the jaws of defeat".
It might still be possible to bring this thing off and snatch victory from the jaws of defeat.
Come on, Frost, time to snatch victory from the jaws of defeat one more time.
He knew this was his chance to snatch victory from the jaws of defeat, to turn himself from a victim into a hero, to be the man who stood by his principles even when the very forces of darkness and reaction had invaded his own home.
With the New Republic shattered and a Yuuzhan Vong conquest looming, it is up to Luke, Leia, and their loved ones to snatch victory from the jaws of defeat.