The big news before kick-off was that Jurrien Timber and Bukayo Saka were deemed fit enough to feature in Arsenal's starting lineup.
Saka wasted little time in making a major impact, with the winger blasting a left-foot shot past Caoimhin Kelleher to break the deadlock and become the youngest Arsenal player to reach 50 Premier League goals.
Arsenal's early lead lasted just nine minutes before Virgil van Dijk headed home his first league goal of the season from Luis Diaz's near-post flick-on.
Liverpool looked set to go into the half-time break on level terms, but they were dealt a sucker punch in the closing stages of the first period when Mikel Merino nodded in his first Arsenal goal from Declan Rice's inch-perfect free-kick.
The Gunners were handed their own setback in the opening stages of the second period as defender Gabriel Magalhaes was forced to make way due to an injury issue.
With William Saliba suspended, Arsenal were ultimately forced to play the remainder of the contest without their two first-choice centre-backs.
Arsenal's reshuffled backline managed to frustrate Liverpool until the 81st minute when they were carved open by Trent Alexander-Arnold's well-weighted through pass, allowing Darwin Nunez to run in behind to square the ball for Salah to guide home.
Salah's strike secured Liverpool a precious point and moved him level with Robbie Fowler on 163 goals in the all-time Premier League scoring charts.
The Reds remain unbeaten on the road this season, with the result leaving them in second place in the Premier League table and one point behind leaders Manchester City.
As for the Gunners, they will finish the weekend in third position and five points adrift of the Premier League summit.
ARSENAL VS. LIVERPOOL HIGHLIGHTS
Saka goal vs. Liverpool (9th min, Arsenal 1-0 Liverpool)
After proving his fitness in time for game, Saka requires less than ten minutes to demonstrate why he is one of Arsenal's key players. The winger latches onto Ben White's long pass before chopping the ball through Robertson's leg to create the space to fire a powerful shot high into the net.
Van Dijk goal vs. Liverpool (18th min, Arsenal 1-1 Liverpool)
Liverpool's skipper pulls his side level! Van Dijk has the simple task of heading home after Diaz flicks on Trent Alexander-Arnold's near-post corner.
Merino goal vs. Liverpool (43rd min, Arsenal 2-1 Liverpool)
Merino restores Arsenal's lead before the break. The former Real Sociedad man meets Rice's inviting free-kick to head past Kelleher. A VAR review confirms Merino was played on by Van Dijk, ensuring he can celebrate his first Premier League goal.
Salah goal vs. Liverpool (81st min, Arsenal 2-2 Liverpool)
Salah finds the all-important equaliser. Alexander-Arnold's superb through ball finds Nunez, who quickly squares it for Salah to pick out the bottom corner to spark scenes of jubilation among the travelling support.
MAN OF THE MATCH - MOHAMED SALAH
Saka and Rice both have claims to be Man of the Match after registering a goal and an assist respectively.
However, we believe Salah deserves the award after producing the game's crucial moment in the closing stages, with his equaliser proving enough to salvage a point from the close-fought encounter.
The Egypt international ultimately kept his composure to send a precise strike into the bottom corner to net his sixth goal of the Premier League goal.
ARSENAL VS. LIVERPOOL MATCH STATS
Possession: Arsenal 45%-55% Liverpool
Shots: Arsenal 9-9 Liverpool
Shots on target: Arsenal 3-4 Liverpool
Corners: Arsenal 1-3 Liverpool
Fouls: Arsenal 14-14 Liverpool
BEST STATS
WHAT NEXT?
After being held to a point, Arsenal will now turn their focus to Wednesday's EFL Cup fourth-round tie against Preston North End at Deepdale.
The Reds will also be in EFL Cup action on Wednesday, with Arne Slot's side set to travel to the South Coast for a meeting with Brighton & Hove Albion.