Both bidding to earn their first top-flight of the season at the second attempt, the first half was a reflection of the two sides' yearning for three points, with end-to-end action in the West London rain.
Marco Silva's side bossed the ball and were deservedly ahead through perhaps the most popular scorer possible in Emile Smith Rowe, but they failed to capitalise on their continued supremacy, as Tottenham Hotspur did at the King Power on Monday.
Deja vu struck in a good way for Leicester, who drew themselves level just before the break thanks to Wout Faes's header, which was initially ruled out for an offside offence before the VAR room sided with the visitors.
A determined Rodrigo Muniz led the Fulham charge in the second as the Cottagers desperately sought a response, but even the hosts' main man was extremely profligate, Alex Iwobi was not, prodding the hosts back ahead with 20 minutes to go.
The Nigeria international's slick finish would prove to be the telling moment in the English capital, as Fulham were rewarded for their overall dominance to leave Leicester still searching for their first win of the new campaign.
FULHAM VS. LEICESTER HIGHLIGHTS
Emile Smith Rowe goal vs. Leicester (18th min, Fulham 1-0 Leicester)
A goal likely celebrated as loud in North London as it was at Craven Cottage, Fulham's record signing Smith Rowe marks his home debut for the Cottagers with the opening goal after a frenetic start.
The ever-dangerous Adama Traore sprints inside and sprays a crisp pass out to Smith Rowe on the left, and the ex-Arsenal man shrugs off a desperate James Justin before picking out the far side of the net with panache.
Wout Faes goal vs. Fulham (38th min, Fulham 1-1 Leicester)
Despite Fulham's relative dominance, Leicester still posed a threat in the first half, and an unlikely source brings the Foxes back on level terms seven minutes before the break.
Facundo Buonanotte's corner is floated into the danger area, and nobody in a white shirt is picking up Faes, who nods a header into the bottom corner. The Belgian's goal was initially ruled out for Jamie Vardy interfering with Bernd Leno from an offside position, but a VAR review saw the visitors awarded their equaliser.
Alex Iwobi goal vs. Leicester (70th min, Fulham 2-1 Leicester)
Fulham's second-half pressure finally pays off, and it is a wonderful passing move out from the back from the Cottagers, as Antonee Robinson releases Iwobi with a first-time pass, and the ex-Arsenal man dashes into the box before firing in underneath the arm of Mads Hermansen.
MAN OF THE MATCH - ANDREAS PEREIRA
Even though Smith Rowe and Iwobi's names were up in lights, Andreas Pereira was the driving force at the heart of the Fulham midfield all afternoon and did not deserve to end the game without a single goal involvement.
The erstwhile Manchester United man fashioned a massive seven chances on the afternoon, as well as having two shots and completing four successful long balls from four attempts in a masterful engine room display.
FULHAM VS. LEICESTER MATCH STATS
Possession: Fulham 55%-45% Leicester
Shots: Fulham 18-10 Leicester
Shots on target: Fulham 6-4 Leicester
Corners: Fulham 7-5 Leicester
Fouls: Fulham 14-13 Leicester
WHAT NEXT?
A second consecutive showdown against newly-promoted opposition is on Fulham's agenda for matchday three, as the Cottagers travel to Ipswich Town for a Saturday 3pm kickoff.
At the same time, Leicester will welcome Champions League-bound Aston Villa to the King Power Stadium, determined to make it third time lucky in 2024-25.