After dominating the opening period without fully testing the visitors, Belgian forward Laurent Depoitre broke the deadlock in the first minute of the second-half.
Yet the euphoria was short-lived as Chris Lowe's clumsy challenge on Andy King saw Foxes forward Jamie Vardy equalise from the penalty spot just four minutes later.
However, it was ruled offside and the goal disallowed when television replays clearly indicated it should have stood for David Wagner's side.
Ahead of the game, there were three changes made to the side which disappointed away at West Ham United on Monday night with Rajiv van La Parra and Philip Billing dropping to the bench for Danny Williams and Abdelhamid Sabiri.
The final change saw Depoitre come in for the injured Steve Mounié, struggling with a heel injury while both Jonathan Hogg and Collin Quaner returned to the matchday squad as substitutes after recovering from their respective injuries.
Wagner wanted and expected a reaction from his charges after the poor performance at the London Stadium and he got one immediately from kick-off as his side took the game to the visitors.
An early ball into the box from Tom Ince saw Depoitre's glancing header go straight into the hands of Leicester City keeper Kasper Schmeichel in the third minute as the John Smith’s faithful roared their side forward.
Town continued to knock on the door, firing crosses into the box at every opportunity looking for the burly Belgian Depoitre and it took the Foxes until the 15th minute to have any real sight of goal – Kelechi Iheanacho closed out well by the Town defence.
Yet once again the frustration was Huddersfield Town’s inability to make it count when in the ascendancy - Leicester successfully weathering the storm before beginning to show their own forward threat as the first-half drew to a close.
If Town were disappointed at the lack of an end product in the opening 45 minutes, they quickly made amends after the interval with Depoitre opening the scoring within the first minute.
A great through ball from Sabiri played in the forward who rolled Harry Maguire magnificently before clinically firing past Schmeichel into the bottom corner.
But the John Smith's pandemonium was short lived as Leicester quickly replied - arguably the over-excitement of taking the lead still coursing through Chris Lowe’s veins as he needlessly brought down Andy King in the box for a penalty.
Foxes forward Jamie Vardy was never going to miss from 12 yards, despite the best efforts of Jonas Lossl, making it all-square and once again all to play for.
There was a short lull in proceedings before Kachunga thought he had restored Town's lead, only for the goal to be ruled out for offside when replays clearly showed it should have stood.
It quickly became an end-to-end affair with both sides having chances to win it – Riyad Mahrez's tantalisingly cross inches away from being converted by Jamie Vardy.
Minutes later Ince saw his effort from 25 yards out go inches wide while substitute Quaner should have done better after an excellent cross from Aaron Mooy.
In the end it was honours even but on the balance of play it will certainly be David Wagner's side who will feel most aggrieved.