Around £33,000 was taken in gate receipts and the game is expected to raise a lot more from fund raising, programmes and food.
Mark Stevenson who runs the official Notts County website said: "There was a fantastic spirit between both sets of supporters which I am sure brought back some poignant memories. It was a wonderful day which was superbly organised by the Supporters Trust and the staff at Notts County Football Club."
Tommy Johnson put the Magpies in front half way through the first half with a left footed strike that beat Forest 'keeper Dave Beasant. The Reds equalised before the break though when European Cup winner Garry Birtles beat Steve Cherry after good work from Danny Wilson.
The match was played in the right manner but the second half was a more heated affair. A late challenge on current Nottingham Forest coach Ian Bowyer caused Chris Bart-Williams to dive in with both feet a couple of times.
Notts County striker Dave Regis was a threat all game and he managed to bravely head in to make it 2-1 after lifting the ball over Steve Chettle's head.
Phil Stant then won a penalty for the Magpies after being brought down by Bryn Gunn late on and he dusted himself off to tuck it away to the goalkeeper's left.
Current Forest reserve team coach Ian McParland scored a consolation for The Reds but County held on for the victory.
The players did a lap-of-honour afterwards to thank the supporters from a number of clubs including Notts County, Nottingham Forest, Leicester City, Sunderland and many more.