With Premier League survival already guaranteed for both sides ahead of Sunday's meeting, the game kicked off in a relaxed manner with neither team under pressure.
The first effort of the contest arrived in the fifth minute from Michael Olise, who did little to work Wayne Hennessey after skipping past a couple of challenges.
Currently on a run of six goals in his last eight games, Eberechi Eze came close to adding to his tally from just inside the box after a clever free-kick routine from Olise.
Palace continued to dominate proceedings and nearly opened the scoring just shy of the half-hour mark with chances falling in quick succession to Cheick Doucoure and Eze.
Having been on the back foot for the opening 30 minutes, Nottingham Forest took the lead against the run of play courtesy of Taiwo Awoniyi's sixth goal in four games, which was expertly set up by Morgan Gibbs-White.
Buoyed by their opener, Forest started to grow into the contest and nearly doubled their money but for some excellent goalkeeping from Sam Johnstone to deny Awoniyi a simple finish from point-blank range.
Fresh off the back of ending a six-game goal drought, Odsonne Edouard got on the end of Olise's inviting set piece, only for him to drag his header well wide of the mark.
Palace headed into the interval trailing at home midway through a match for the first time since January when they faced Manchester United.
Aiming to add to their seven wins from losing positions this term, Palace unsurprisingly kicked off the second period on the front foot.
On what was his 50th appearance for Palace, Will Hughes drew his side level in superb style midway through the second half as he flicked a lovely header over Hennessey from Olise's cross.
Now set on securing a win, the hosts piled on the pressure in the final quarter of the game, although it was Forest who nearly snatched all three points through Awoniyi.
Jean-Philippe Mateta also came close to grabbing a winner 20 minutes after coming on as a substitute but he was denied by a crucial block from close range.
Following a largely pedestrian second-half display, Eze produced his first attempt on target in the 90th minute, although his effort was comfortably dealt with.
That proved to be the final meaningful action of the clash as Palace and Forest settled for a share of the spoils to end the season in 11th and 16th place respectively.