Robbie Keane's injury time penalty completed a stirring comeback in another memorable derby at the Lane.
Trailing 2-0 at half-time after two clinical goals on the break from Patrick Vieira and Robert Pires, we responded with Jamie Redknapp's 25-yard strike and then Keane's nerveless spot kick into the roof of the net in injury time.
A draw was just reward for our efforts in the second half as we pushed forward after Redknapp's goal, play that left the constant threat of another Arsenal breakaway.
In fact, the Gunners carved out three clear-cut chances but a combination of Kasey Keller, the woodwork and Jose Reyes blocking a goalbound Thierry Henry shot made sure they didn't add to their half-time tally.
At the other end, it was pressure, not neccessarily clear-cut chances, that eventually told.
After the disappointments of the first half where Vieira struck inside three minutes - all-but killing a spine-tingling atmosphere just before kick-off - and Pires after 34, the second half has to be the half of the season.
Fredi Kanoute tried his luck from a free-kick before Redknapp brought us back into the game. Jermain Defoe led the break down the left, squared to the supporting Michael Brown, he moved the ball onto Redknapp who struck a sweet drive into the bottom left corner from 25 yards.
Henry slid a one-on-one chance wide after Keller got his angles right and then at the other end Jens Lehmann flicked Redknapp's free-kick over.
The game continued to boil. Kanoute fired straight at Lehmann, Robert Pires rattled the crossbar and then Reyes got in the way of Henry's shot destined for the bottom corner.
When Lehmann tipped Defoe's free-kick over in the last minute of normal time it looked over - but then came the incredible finale.
Lehmann and Keane clashed after a corner and after the melee had settled down, referee Mike Halsey pointed to the spot. It seemed an eternity before Keane was able to place the ball down and, as the crowd held its breath, buried the ball into the top right corner.
The point could prove crucial - with Leeds losing against Portsmouth, it leaves us seven points clear of the relegation zone with three games left.
Oh, and Arsenal won the title.
MINUTE BY MINUTE GUIDE
3mins: GOAL. Quick break from our possession, Henry to Bergkamp, squared for Vieira to tap in. 0-1.
21mins: Our first effort at goal, Redknapp's 25-yard free-kick comfortably saved by Lehmann.
26mins: Taricco curler from 25 yards landed on roof of net with Lehmann scrambling.
34mins: GOAL. Very similar to opener, this time Vieira break down left, cut back to Pires who slotted from 10 yards. 0-2.
35mins: Kanoute 25-yarder taken unconvincingly by Lehmann.
36mins: Davies dipping volley just over.
42mins: SAVE. Campbell break, fed Bergkamp, Keller out to block one-on-one.
Half-time: Spurs 0, Arsenal 2
Half-time: SUBS. Defoe for Jackson.
52mins: Kanoute free-kick from 25 yards high and wide.
57mins: YELLOW. Redknapp for foul on Parlour.
58mins: SAVE. Henry worked a yard of space on the left channel, low shot well turned aside by Keller to his right.
60mins: Great tracking from King to divert Vieira's cross intended for Henry on another quick break.
61mins: GOAL. Defoe break down left, squared to Brown, he squared to Redknapp who drilled into corner from 25 yards. 1-2.
65mins: SUB. Edu for Parlour.
71mins: CHANCE. Pires fed Henry, through one-on-one, Keller got angles right and Henry slid wide.
73mins: SAVE. Lehmann tipped over Redknapp's 20-yard free-kick.
75mins: CHANCE. Bizarre moment from poor Arsenal throw, Kanoute couldn't seem to believe he was suddenly in on goal, tight angle, left side of box, shot straight at Lehmann.
77mins: WOODWORK. Gardner gave ball away to Henry, he slid in Pires, struck the underside of bar from 10 yards.
78mins: SUB. Poyet for Kelly.
80mins: SUB. Reyes for Bergkamp.
81mins: Lovely touch from Kanoute released Keane down left, cross to Defoe who controlled and shot but blocked by Campbell.
83mins: CLOSE. One-touch move from Arsenal, Henry goalbound effort blocked by own player Reyes.
89mins: SAVE. Defoe curling, dipping free-kick tipped over by Lehmann.
Injury time: PENALTY/GOAL. Lehmann and Keane altercation in box after a corner, referee awarded a penalty, Keane nerves of steel buried spot kick in top corner. 2-2.
Injury time: SUB. Bunjevcevic for Taricco.
Line-ups: Spurs: Keller, Kelly (Poyet, 79), Taricco (Bunjevcevic, 90), Gardner, King, Brown, Redknapp, Davies, Jackson (Defoe, 45), Keane, Kanoute. Subs: Hirschfeld, Ricketts.
Arsenal: Lehmann, Cole, Vieira, Pires, Bergkamp (Reyes, 80), Lauren, Henry, Parlour (Edu, 65), Silva, Campbell, Toure. Subs: Stack, Keown, Cliche.
Referee: Mike Halsey.