An excellent game between two of the top teams in the Championship ended all square after a 90 minutes that had everything including two penalties and a red card.
Jamie Vardy put league leaders Leicester in front just before the half hour but Forest went into the break in front after two goals in three minutes from Jamie Paterson and Andy Reid from the spot.
Paul Konchesky was dismissed for the visitors with 30 minutes remaining but it was the Foxes who drew level, Riyad Mahrez scoring after fellow substitute Kevin Phillips had seen his penalty saved.
A point apiece and a result that keeps the Reds in the thick of the promotion race with a game against second-placed Burnley to come at the weekend.