The young Foxes picked up their first point in four games, and had to do so a player down after Kevon Gray's dismissal just before the hour mark at Crystal Palace Training Ground.
Following three straight defeats, most recently to Fulham, it was City who started strong and took an early lead when Laolu Omobolaji scored at 15 minutes, taking his tally to five for the season.
Palace's Dean Benamar levelled things up 10 minutes before the break, bringing an end to the scoring in Beckenham, despite Leicester ending the game with 10 men.
Holding on for their first point since mid-September, the Foxes remain seventh in U18 Premier League South ahead of a home return this Saturday morning when they welcome Aston Villa to LCFC Training Ground for an 11am GMT kick-off.
The details...
City: French, Diallo, Adedeji (Daniels 46'), Lawrence, Khela; Gray, Dyke; Owusu (Aideed 60'), Otchere, Omobolaji; Hutchinson (de Lisle 73') (Toko 83').
Unused sub: Stretton.
Goal: Omobolaji 15'.