Leicester took a two goal lead into half-time, with goals from Lorenz Hutchinson and Maxwell Adedeji, before Thomas Wingate scored a late brace to ensure the points were shared in London.
The young Foxes headed into the game off the back of a 4-3 defeat to Arsenal, but started the game well, netting via centre forward Hutchinson after 22 minutes.
Finnish full-back Adedeji doubled our lead going into the break, but the Cottagers came out firing in the second half, halving the deficit through Wingate.
Eleven goals for Hutchinson this season.
Heading towards the game's conclusion, the hosts won a penalty against the 10 men of Leicester, following Michael Toko's dismissal, allowing Wingate the chance to convert, which he took.
A fifth draw of the campaign, we now sit eighth in U18 Premier League South, with 23 points. Up next is a fixture against the Gunners, on Saturday morning (11:30am BST kick-off) at LCFC Training Ground.
The details
City: McNab; Adedeji (Toko 79'), Khela, Gray, Diallo; Aideed, Akolbire; Daniels, Omobolaji (Anugo 85'), Owusu; Hutchinson.
Unused subs: Marson, Motsi, Fletcher.
Goals: Hutchinson 22', Adedeji 40'.