Mascherano, 40, is a former teammate of Miami star Lionel Messi. The two were teammates at FC Barcelona from 2010-18.
Miami had won the regular season campaign with a record points total but after losing twice in the best-of-three series, the MLS Cup favourites and their eight-times Ballon d'Or winner are out.
Portuguese winger Xande Silva blasted home a sensational winner for Atlanta in the fourth minute of stoppage time in front of 68,455 home fans at the Mercedes-Benz Stadium to level the best-of-three postseason series 1-1 and set up a winner-take-all game three in Miami next Saturday.
Miami started with all their big-name stars, including Lionel Messi, on the bench but the Argentine was introduced in the 61st minute to the delight of many in the Toronto crowd.
Messi had been subdued until the 45th minute when he put Inter ahead -- chesting down a long ball into the box and getting a lucky bounce off Crew defender Malte Amundsen before poking home.
Messi tied Saturday's match in the 67th minute when he lasered a shot from beyond the box that evaded diving Charlotte goalkeeper Kristijan Kahlina to make it 1-1.
Inter Miami's charge towards Major League Soccer's single-season points record suffered a setback on Saturday after a last-gasp injury-time equalizer from James Sands snatched a 1-1 draw for New York City FC against the Eastern Conference leaders.
The Argentinian superstar Messi came close to a game-clinching goal in the 83rd, but his angled effort was blocked by Atlanta goalkeeper Brad Guzan and Suarez's attempt to tap in the rebound was also denied.
The eight-times Ballon d'Or winner hadn't played since injuring his right ankle during the Copa America final on July 14, when he helped Argentina to victory over Colombia.
Inter Miami delivered the most impressive win of their Lionel Messi era, 3-1 at Major League Soccer champions Los Angeles FC on Sunday, with two assists from the Argentine boosting their playoff hopes.
Lionel Messi and Inter Miami face the MLS champions as their bid to make the playoffs takes them to Los Angeles on Sunday.
Spain defender Jordi Alba has retired from international football, the Spanish football federation said Friday.
Striking workers at a Los Angeles hotel have appealed to Inter Miami and their captain Lionel Messi to stay away from their establishment when the team arrive for a match against LAFC on Sunday.
Second-half goals from Luciano Acosta and Brandon Vazquez lifted Cincinnati to a 2-1 victory at Atlanta, where Colombian Edwin Mosquera's first MLS goal had put the hosts ahead in the 10th minute
More than what was happening out there on the field at the Red Bull Arena on Sunday, fans were concerned about just one thing -- at least till the 60th minute of the game between Inter Miami and hosts New York Red Bulls.
It was Messi's 11th goal in all competitions since joining Miami (6-14-3, 21 points) July 15 and sealed the club's first win since May 13. Before Messi sealed the win, Miami had been 0-8-3 in its previous 11 MLS matches
Inter Miami coach Gerardo "Tata" Martino has hinted that Lionel Messi may not start Saturday's Major League Soccer clash at the New York Red Bulls.
Miami trailed 2-0 with 22 minutes left before Messi whipped in a free-kick from the left which was headed home by Leonardo Campana
"I'm not thinking about it (retirement) yet, to be honest. I like to play, I enjoy being with a ball on the field, competing, training," said the seven-times Ballon d'Or winner in an interview with Apple TV+.