Heat oven to 375°F; spray a 9x13-inch dish with cooking spray.
Mix marinara and Alfredo sauces in a medium bowl until well blended.
Spread 1 cup sauce in dish.
Arrange half the frozen ravioli in one layer. Dollop with half the ricotta; sprinkle with 1 cup mozzarella, half the Parmesan, garlic powder, and dried basil.
Pour half the remaining sauce over cheese. Repeat with remaining ravioli, ricotta, 1 cup mozzarella, remaining Parmesan, and sauce.
Cover with foil; bake 30 minutes. Uncover; top with remaining 1 cup mozzarella. Bake 5 minutes until cheese melts.
Garnish with fresh basil before serving.