The visitors took an early lead via Gabriel Martinelli when he prodded in after eight minutes following a counter led by Bukayo Saka.
Gabriel Jesus then headed in a second for the Gunners just before the half-hour mark, but Mohamed Salah reduced the arrears by converting from close range prior to the interval.
Salah missed from the penalty spot shortly after the restart but the Reds continued to pile on the pressure in search of a leveller.
It duly arrived with three minutes of normal time left when Trent Alexander-Arnold skipped into the area and crossed for Roberto Firmino to head in.
Team news
Liverpool’s teamsheet showed five changes from the midweek draw at Chelsea.
Alexander-Arnold, Andy Robertson and Virgil van Dijk returned in defence, while Cody Gakpo and Salah came back into the attack.
Thiago Alcantara was named among the substitutes after recovering from injury.
Liverpool: Alisson, Alexander-Arnold, Konate, Van Dijk, Robertson, Fabinho (Firmino, 78), Henderson, Jones (Thiago, 60), Jota (Nunez, 60), Salah, Gakpo.
Unused subs: Kelleher, Gomez, Milner, Elliott, Tsimikas, Matip.
First half
Prior to kick-off, Anfield paid its respects to the 97 children, women and men who died at the Hillsborough disaster ahead of next weekend’s 34th anniversary of the tragedy.
Once the action was under way, Arsenal fashioned an opening inside the first minute when Martinelli’s surge into the area saw his cross deflected into the path of Granit Xhaka, whose first-time hit was deflected behind by Ibrahima Konate.
At the other end, Gakpo’s shift onto his right and shot from just inside the box cleared Aaron Ramsdale’s crossbar.
On eight minutes, however, Arsenal took the lead when a counter down the right resulted in Martinelli beating Robertson to the ball and toe-poking beyond Alisson Becker after Martin Odegaard’s pass had deflected off Van Dijk.
Liverpool’s goalkeeper then had to turn a curling effort from Oleksandr Zinchenko around the post as the Gunners looked to strengthen their grip on the contest.
Nevertheless, the Reds fashioned an excellent opportunity to level with 20 on the clock. Fabinho lofted a pass into the path of Robertson’s run into the area. He took a touch before drilling agonisingly wide of the far post.
Rob Holding then produced a vital interception to stop Diogo Jota from heading in an Alexander-Arnold cross.
But Arsenal extended their lead when Jesus headed in from a Martinelli cross with less than half an hour played.
Liverpool threatened to pull one back via Jordan Henderson sending Salah running into the area, but he struck wide of the near post under pressure.
The home team did give themselves hope, however – Salah tapping in from close range after Henderson’s attempt to turn Jota’s low cross goalwards broke in the favour of the Egyptian inside the six-yard box.
Then, in stoppage time, Ramsdale parried from Jota at his near post following Alexander-Arnold’s cross before Henderson drove the rebound over the crossbar.
Second half
Liverpool began the second half with intent – and they were awarded a spot-kick when Holding brought Jota down inside the area at a corner seven minutes after the restart.
Salah assumed responsibility but sent his low effort wide of the left-hand post.
The No.11 was then denied by a save from the Arsenal goalkeeper at close range after Robertson’s cross had been flicked into his path by Holding.
With an hour played, Thiago and Darwin Nunez were introduced from the bench in place of Jota and Curtis Jones.
A flurry of set-piece deliveries into the area caused concern for Arsenal, but Alisson needed to be alert to stop Saka sweeping in from a Martinelli centre before he plucked an Odegaard effort out of the air.
Firmino came off the bench with 12 minutes remaining, replacing Fabinho, before Liverpool carved out another good chance.
This time Nunez raced through onto a Salah pass, but was thwarted by a sprawling save at his feet by Ramsdale.
But the pressure would finally tell on 87 minutes. Henderson reversed a pass into the path of Alexander-Arnold, who skipped through Zinchenko before standing the ball up into the centre for Firmino to head in.
Six minutes of added time brought hope of a winner – Alexander-Arnold arrowed a drive over from the edge of the box before Salah struck over from inside the six-yard box.
The forward was then denied by the fingertips of Ramsdale and Konate had an effort from the resulting corner cleared off the line in a frenetic finish, but Arsenal held on for a point.
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