Richarlison scored a stoppage-time equaliser for Everton that moves them four points clear of the bottom three.
Everton looked set for defeat as Harvey Barnes fired the visitors in front in the fifth minute.
But Richarlison was able to make it 1-1 before the end to earn the Toffees an important point.
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It was a goal which could yet have greater significance in their bid to avoid the drop as it extended the gap over 18th-placed Burnley to four points.
However, it may not be enough to stop them falling into the bottom three this weekend as by the time they arrive at Anfield on Sunday afternoon for the Merseyside derby against a red-hot Liverpool side they could be two points adrift of safety as Burnley have home games against Southampton (Thursday) and Wolves.
While the draw was frustrating for Leicester, whose understrength side lost at Newcastle at the weekend, a point did little for their league position as they remain in ninth, with their priority now being the Europa Conference League semi-final against Roma.
Everton centre-back Yerry Mina was thrust straight back into the team with a first appearance since early February after finally recovering from a thigh injury but striker Dominic Calvert-Lewin was absent having been ruled out for at least 10 days with a quadricep problem.
The Colombia international’s first real interaction was to inadvertently deflect Kelechi Iheanacho’s shot from James Maddison’s cut-back into the path of Barnes who could not miss from close range.
That was just after five minutes but Everton would probably have been behind after just 21 seconds had Seamus Coleman’s last-ditch tackle not denied Kiernan Dewsbury-Hall who was through on goal.
Even at kick-off, the atmosphere was not what would have been expected for a night game at Goodison Park and the goal just flattened it further.
Maddison should probably have doubled Leicester’s lead after driving from deep…
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