Arsenal withstood plenty of second-half pressure before dominating the late exchanges in the game.
With both sides missing key players, Arsenal would have feared the worst when Bukayo Saka was forced off injured after just 10 minutes.
However, a tactical tweak that saw Eberechi Eze come on and move to the left-wing, with Noni Madueke moving to the right, did wonders for the Gunners as they went in front.
Martin Odegaard curled a beautiful ball in behind for Eze, who netted for the second successive UCL match as he half-volleyed into the bottom corner.
Despite an unusual lack of set-piece threat this season, Arsenal also created a couple of chances from corners, with Riccardo Calafiori and Bruno Guimaraes firing wide at the back post.
However, Bayern were also creating opportunities themselves, and although Serge Gnabry should have tested David Raya more against his former club, an advanced Alphonso Davies slotted past the Spaniard to equalise before half-time.
It was a sumptuous ball from Arsenal’s nemesis Harry Kane to feed him, as the ex-Tottenham Hotspur star was dropping deep and spraying effortless passes to his teammates.
Both goalkeepers made stunning saves early in the second half, with Manuel Neuer first tipping Guimaraes’ header onto the crossbar following another dangerous Arsenal corner, before Raya produced exquisite reactions to stop Dayot Upamecano’s header shortly after.
It was end-to-end at this point, and Eze almost found his brace when he dribbled past his marker and poked towards goal, but Neuer was at hand to save Bayern again.
The Bavarians were next on the attack, and Kane’s shot looked destined to put them ahead before Jurrien Timber put his arm up and stopped the ball from hitting the net.
Consequently, a penalty was given and Kane made no mistake, scoring his 16th career goal against Arsenal by sending Raya the wrong way.
Substitute Luis Diaz could have put the game to bed when his curler was parried by Raya, a miss that was punished when Arsenal soon equalised at the other end.
Viktor Gyokeres came off the bench and used his body well to back into his defender before feeding Declan Rice, who struck brilliantly into the bottom corner, ultimately earning the Gunners a point.
Bayern will be disappointed to only draw the match after dropping points at Viking last week, but they at least brought up 40 unbeaten group stage/league phase outings at home as a result (W38, D2). Meanwhile, Arsenal remain undefeated in this season’s competition (W2, D1).
Flashscore Man of the Match: Harry Kane (Bayern Munich)