Mason Mount gave the Blues a lead in just seven minutes after a mistake from Wilfred Ndidi, but the Nigerian made up for the blunder with a thumping headed equaliser in the second half.
Chelsea started the contest at a blistering pace, and after just three minutes, Pedro almost opened the scoring. Olivier Giroud laid the ball in his path with a chest pass, but the Spaniard placed the ball on the wrong side of the post.
The Blues were all over the Foxes, and just four minutes later, it yielded results. Ndidi was careless with the ball, allowing Mount to win it off him and smash it home.
Bleacher Report's Sam Tighe is a fan of the academy product:
Chelsea played their best football of the young season so far in the early stages, highlighted by a sombrero-flick from Cesar Azpilicueta and some sublime passing moves. But after the early goal, their threat in front of goal vanished, although Mount drew a save from Kasper Schmeichel with a header.
N'Golo Kante almost got a shot off from a threatening spot after another flowing passing move before Ndidi and Caglar Soyuncu finally threatened Kepa Arrizabalaga, narrowly failing to make contact with a sharp cross.
Leicester finished the first half on top, but the Foxes couldn't translate their possession into real chances.
Sportswriter Nizaar Kinsella liked what he saw from the Blues in the first half:
Chelsea's level of play plummeted at the start of the second half, however. The Foxes took full control of the contest and pushed forward in search of an equaliser, while the Blues were unable to do much on the counter.
Lampard brought on Tammy Abraham after an hour of play to add some pace to his attack, but little changed, and the Foxes eventually found their deserved equaliser. It was Ndidi, making up for his earlier mistake with a powerful header.
And they nearly took the lead shortly after, but James Maddison couldn't keep his shot down after setting up his own chance.
Jamie Vardy also couldn't keep his cool, blasting a shot narrowly wide, and Youri Tielemans tested the reflexes of Kepa, but the stopper was ready for his shot. Leicester had a late penalty shot turned down after Andreas Christensen appeared to pull down Vardy, but there would be no more goals at Stamford Bridge.