Ross Wallace’s stunning, injuy-time free-kick gave Burnley a deserved point at the King Power Stadium.
The Scot came off the bench to level the score in sensational fashion in the sixth minute of added time.
Riyad Mahrez’s goal on the stroke of half-time had for long seemed the difference between the two newly-promoted Premier League sides.
Michael Kightly had scored Burnley’s first since the opening game of the season only seconds earlier when he had cancelled out Jeffrey Schlupp’s opener six minutes before the break.
Ashley Barnes and Stephen Ward were both handed their first league starts of the season as Sean Dyche was once again without several first-team regulars.
The Irishman partnered Arfield in central midfield with Burnley lining up in a 4-4-2 formation.
Meanwhile, Champions League winner Esteban Cambiasso missed out for Leicester who had former Claret David Nugent on the bench.
It was Burnley who began the match on the front foot.
On 5 minutes, Kightly was not far away from applying a finishing touch after Lukas Jutkiewicz ran in behind the Foxes defence before flashing a dangerous ball across the face of goal.
In response, Danny Drinkwater brought out a routine stop from Tom Heaton with a long-range effort.
On 18 minutes, the Clarets goalkeeper was at full stretch when he did well to turn Mahrez’s low strike behind for a corner.
However, neither team managed to sustain a prolonged spell of possession in the opening quarter of the game.
Ben Mee was to the rescue shortly after when he put his body in the way of Wes Morgan’s towering header from a Leicester corner. Liam Moore was then unable to keep his follow-up effort goalwards.
Just past the half-hour mark, Barnes tested Kasper Schmeichel with a well-struck effort from outside the box. The Danish shot-stopper was equal to the test.
The opening goal of the match came out of nothing when the ball broke to Mahrez on the right side of the penalty area.
The Algerian produced some trickery before pulling the ball back to Schlupp who got away from his marker and diverted it into the net on his weaker foot.
It took Burnley only six minutes, though to reply and finally put an end to their goalscoring drought.
Arfield showed a lot of composure when he collected a second ball about 25 yards away from goal and lifted it to the far post.
There was Jutkiewicz who knocked the ball down right into the path of the on-rushing Kightly who turned it home from close range to put the Clarets back on level terms.
Leicester reacted and went back in front almost immediately, however.
Schlupp combined with Jamie Vardy to create an overload on Burnley’s right and when the latter’s cross was inadvertently flicked on by Jason Shackell, Mahrez was on hand to head it in at the far post.
The second half began in a similar fashion to the first with neither team being able to take control of the proceedings.
On 59 minutes, Jutkiewicz headed Mee’s ball into the box wide of the post.
Eight minutes later, Marvin Sordell replaced George Boyd as the Clarets kept looking for a way back into the contest.
And the substitute was straight into the action when he ran onto Barnes’ ball in behind the Foxes back four – only for Schmeichel to race off his line and clear the danger in the nick of time.
Jutkiewcz then turned sharply before sending a well-struck effort just off target from outside the box.
And moments later, the forward brought out another save from the Leicester goalkeeper as Burnley could start to sense a goal coming.
Frustratingly, the Clarets were then cursing their recent bad luck with injuries when Kieran Trippier had to be stretchered off the pitch following a collision with Schlupp.
Michael Keane was introduced onto the field for the final four minutes at right-back.
And Leicester could have settled the score had Heaton not made a smart save to keep out Moore’s set-piece header on 89 minutes.
The match then saw seven minutes of stoppage time in the wake of Trippier’s injury and Burnley did get their last big chance when Arfield won a free-kick just outside the penalty area.
And Wallace stepped up to lift the ball over the wall and into the net beyond the reach of Schmeichel to send the travelling Clarets into raptures with seconds left on the clock.
Burnley: Heaton – Trippier (Keane 86), Duff, Shackell, Mee – Kightly (Wallace 78), Arfield, Boyd (Sordell 67), Ward – Barnes, Jutkiewicz.
Subs not used: Gilks, Long, Lafferty, Hewitt.
Leicester: Schmeichel – De Laet, Morgan, Moore, Konchesky – Mahrez (Knockaert 72), Drinkwater, Hammond (James 78), Schlupp – Ulloa (Nugent 63), Vardy.
Subs not used: Hamer, Wasilewski, King, Wood.
Goals: Schlupp 33, Mahrez 40 – Kightly 39, Wallace 90+6
Bookings: Schlupp, Nugent – Ward, Arfield
Referee: Phil Dowd
Attendance: 31,448 (2,196)