Despite not being seen in training on Friday afternoon as he battled back from a hamstring problem sustained on international duty, Saka passed a fitness test on Sunday morning and was given the green light to start the visit of the Reds.
Saka needed just nine minutes to mark his return to the first XI with a bang, latching onto a brilliant long pass from Ben White and turning Andy Robertson before a thunderous finish at Caoimhin Kelleher's near post.
In doing so, the Hale End graduate racked up his 50th Premier League goal for Arsenal, becoming the youngest Gunner to hit that landmark in the competition at the age of 23 years and 52 days, breaking Thierry Henry's record in the process.
Saka's milestone strike also represented his fourth of the season across all competitions, and a combative overall display on Sunday saw the winger win seven of his nine duels as Robertson and co struggled to deal with him.
Saka hits Arsenal landmark in Liverpool draw
The England international now has a total of 62 goals and 60 assists to show from 237 senior appearances for Arsenal, who did not immediately manage to build on Saka's opener as Virgil van Dijk headed in the leveller from a corner.
However, after Liverpool beat Arsenal at their own set-piece game, the Gunners responded in kind, as a terrific Declan Rice free kick was on the money for Mikel Merino to nod in his first goal for Mikel Arteta's side.
The Spaniard's effort was just reward for Arsenal's first-half dominance against Arne Slot's side, but after Gabriel Magalhaes and Jurrien Timber were both forced off, the Gunners had the look of a team who had had a man sent off.
Liverpool huffed and puffed at a makeshift Arsenal backline of Ben White, Thomas Partey, Jakub Kiwior and Myles Lewis-Skelly in the time that remained, and they were eventually rewarded when Mohamed Salah swept in the Reds' second equaliser of the day.
Arsenal substitute Gabriel Jesus had a late winner disallowed, before the Brazilian talked himself into a booking when the Gunners were denied a corner right at the death.
What does the result mean for Arsenal and Liverpool?
The cheers will be the loudest in Manchester on Sunday evening, as Arsenal and Liverpool's draw means that Manchester City will spend the next few days at the top of the table, one point clear of Slot's side.
Meanwhile, Arsenal jump back up into third place above Aston Villa and Chelsea, but they now have a five-point gap to make up to Man City and are four worse off than Liverpool in the runners-up position.
While frustrations nearly boiled over for Arsenal at the death, Arteta's side have now gone unbeaten in their last five Premier League games against Liverpool, who have not beaten the Gunners in the top flight since the 2021-22 season.
Both sides now turn their attention to the EFL Cup, as holders Liverpool head to Brighton & Hove Albion on Wednesday evening, the same night that Arsenal visit Preston North End.