Shaqiri's team had gone behind early in the match, when Serbian striker Aleksandar Mitrovic rose superbly to slot away a header which was assisted by Dusan Tadic.
And with Switzerland levelling through a Granit Xhaka strike early in the second period, the game was finely poised in the second half.
From getting posession in their own box, Switzerland got it forward to the Stoke winger in just two passes. He picked up the ball just in the oppostions half, and ran away from defender Dusko Tosic to slot the ball home cooly.
The Swiss celebrated the last-minute goal by taking off his shirt, showing how much the goal means to him and his team's World Cup ambitions.