Irfan Can Kahveci missed the chance to take the lead for Fenerbahce as he could not score a penalty in the 33rd minute.
But Kayserispor drew first blood with Dimitrios Kolovetsios' goal in the 39th minute.
In the second half, fans at the Ulker Stadium in Istanbul expected their team to equalize but Kayserispor's Mario Gavranovic shattered their dreams with his goal in the 61st minute.
Falling back 2-0, the Yellow Canaries clawed back with Miha Zajc scoring in the 85th minute, giving their fans hope.
The scores leveled after a late penalty goal by Mesut Ozil in the 99th minute.
Fanerbahce have not won a game in their last four Super Lig matches.
The Istanbul club, which won the Super Lig title in 2014, are placed 7th in the standings with 20 points. Trabzonspor top the table with 30 points.
GALATASARAY SETTLE FOR DRAW AGAINST KARAGUMRUK
Meanwhile, Galatasaray got a 1-1 away draw against Fatih Karagumruk.
After a goalless first half, Fatih Karagumruk took the lead with Andrea Bertolacci's goal in the 69th minute at the Ataturk Olympic Stadium.
The Yellow Reds equalized the score with Mustafa Muhammed's goal in the 88th minute, and the game ended in a draw.
Karagumruk are the only team Galatasaray have not been able to defeat in the league so far, under the management of Fatih Terim.
With 21 points, Galatasaray are now at No. 4 in the standings.
Results:
Gaziantep-Kasimpasa: 2-0
Caykur Rizespor-Aytemiz Alanyaspor: 2-0
Demir Grup Sivasspor-GZT Giresunspor: 0-0
Oznur Kablo Yeni Malatyaspor-Medipol Basaksehir: 1-3
Fraport TAV Antalyaspor-Altay: 1-0
Besiktas-Trabzonspor: 1-2
Goztepe-Ittifak Holding Konyaspor: 0-2
VavaCars Fatih Karagumruk-Galatasaray: 1-1
Adana Demirspor-Atakas Hatayspor: 1-0
Fenerbahce -Yukatel Kayserispor: 2-2
