Tottenham had their tails up by two goals before Arsenal masterminded a comeback of their own to keep a point at their home grounds.
Arsenal started the better of the two sides but it was the visitors who took the lead as early as the 10th minute through Christian Eriksen.
Bernd Leno in the Arsenal goal made a meal of Erik Lamela’s low shot, allowing Eriksen to ghost in behind the Gunners’ defence to tap into an empty net.
Leno made up for his earlier error with a diving save to deny Son Heung-Min in the 18th minute before the German goalkeeper again tipped the South Korean’s effort over the bar after 36 minutes.
Tottenham were awarded a penalty in the 39th minute after Granit Xhaka scythed down Son Heung-Min in the penalty box, Harry Kane stepped up and sent Leno the wrong way for his third league goal of the season.
Lacazette’s free kick was parried away by Lloris in the 44th minute but the Tottenham captain was powerless in preventing his fellow Frenchman from halving the deficit when he smashed the ball into the back of the net a few seconds before the break.
Tottenham threatened to increase their lead after the break as Leno tipped Son’s effort around the post before Harry Kane hit the inside of the Arsenal post with a fierce strike in the 60th minute.
Substitute Dani Ceballos’ swerving 25-yard strike was tipped over by Lloris five minutes later as Arsenal threatened to equalize.
That equalizer came 19 minutes from time when Pierre-Emerick Aubameyang stuck out a leg to turn Guendouzi’s excellent cross past Hugo Lloris.