A Tom Clarke header 12 minutes into the second half gave North End a draw after Liam Moore's first half opener.
However, a Clarke header from Will Hayhurst's right wing free kick levelled matters just before the hour mark to give North End a deserved draw after a hard-working display against the Premier League new boys.
The visitors almost got off to a dream start, pacy forward Jamie Vardy capitalised on ball back after only 30 seconds and lifted the ball past Jamie Jones, but Bailey Wright was present to clear off the line.
North End’s first chance came in the third minute as some good play by Josh Brownhill saw the No.30 slide the ball into Scott Laird running in from a left hand channel and it took a great block by ex-PNE loanee Ritchie De Laet to deny the opener.
But it was Nigel Pearson’s men who opened the scoring through Liam Moore, the Academy graduate showed skill not normally associated with a defender to control on his chest and volley in off the left hand post after Gary Taylor-Fletcher had kept in deep cross to the back post.
Seven minutes later Brownhill into box, onto a flick from Kevin Kavies, but another former Lilywhites man Matty James put out a foot after his initial mistake, Brownhill went down, but referee Darren Handley waved away the claims for a penalty.
Five minutes before the break Kevin Davies had a fantastic effort from 20 yards blocked by goalscorer Moore after Josh Brownhill had sent the No.9 through, the Leicester man showing his abilities at both ends of the park.
But the best chance of the first half for North End came with the last touch of the half as Brownhill – with his last touch before being substituted at half-time - fired over the bar from the edge of box, having dropped a shoulder to create space for the attempt.
North End drew three minutes before the hour mark. It came from Chris Humphrey going down the right hand side at pace; the Jamaican was brought down and Will Hayhurst, a half-time substitute whipped a cross from the right hand touchline, level with the box, to the back post to where Tom Clarke rose highest to head in from six yards out holding off the challenge of Marcin Wasilewski.
It could have been 2-1 to Simon Grayson’s side a minute later as Humphrey again showed a clean pair of heals to Konchesky and delivered deep to the back post; the ball found its way back to the winger, who turned the ball back to skipper John Welsh, who saw his effort claimed at the second attempt by Kasper Schmeichel.
North End pressed in the final ten minutes, Paul Konchesky almost scoring a spectacular own goal from a Hayhurst free kick and then Joe Garner, on for the final 12 minutes, fizzed a ball across the six yard box, but the runners were just behind as it flashed through the box from the left.
Garner then beat Schmeichel and saw his shot come back off the right hand post from 20 yards out, only to see the linesman's flag go up again him in the final few minutes as the game ended level.
PNE line-up: Jones (Stuckmann, 61), Woods (Wiseman, 46), Buchanan (Hayhurst, 46), King, Clarke (Keane, 61), Wright, Humphrey (Little, 61), Welsh (c) (Garner, 78), Brownhill (Browne, 46 (Byrom, 78)), K Davies (Hugill, 61), Laird (B Davies, 61).
Leicester City line-up: Schmeichel, De Laet (McCourt, 77), Konchesky, Drinkwater (Kennedy, 70), James (Hammond, 70), Vardy (Mahrez, 34), Moore (Morgan, 70), Taylor-Fletcher (Nugent, 61), Ulloa (Wood, 61), Knockaert (King, 70), Wasilewski (Albrighton, 70). Sub not used: Logan.
Attendance: 3,693 (386 away fans)
Referee: Mr D Handley