Town lead at the break courtesy of Francois Zoko’s strike before Kelvin Mellor equalised with 20 minutes remaining despite a handball claim in the build-up.
The Glovers thought they’d won it when Darren Ward marked his comeback with a goal before Nathan Delfouneso broke Yeovil’s resolve in the 95th minute to snatch a point.
The Green and Whites started with a 4-3-1-2 setup in Lancashire, with Tom Eaves earning a recall.
Ben Whitfield dropped to the bench alongside new signing Shayon Harrison whilst Jack Storer returned to the matchday squad after a week’s absence.
Darren Ward (knee) made his first appearance since mid-November claiming the captain’s armband, with Alex Lacey starting on the sidelines.
With the Bloomfield Road pitch not conducive to free-flowing football, it was a scrappy opening 20 minutes with set-pieces providing both side’s best opportunities.
Early on, Jamille Matt headed just over the bar from a corner, before a Town set-piece fell to Nathan Smith in the box with the defender only able to blast into a huddle of players with Sam Slocombe stranded.
With the pitch becoming increasingly bobbly, direct play from the Seasiders saw Matt run onto his own flick-on but, lacking in composure, the striker could only pick out the stands with an attempted lob.
As the game ticked past the half hour mark Yeovil began to enjoy the better of proceedings, with the free roaming Zoko growing in influence.
Enjoying more time on the ball it was the Town striker who broke the deadlock on 34 minutes.
Liam Shephard’s throw-in was flicked on by strike duo Eaves and Omar Sowunmi, with Zoko perfectly placed to prod home on the volley from close range.
Buoyed by taking the lead the Glovers finished the half the stronger and almost added to their advantage just before the break.
A deep cross could only be headed into the path of Matty Dolan on the edge of the box, with the midfielder’s well-hit effort having to be pushed around the post by the home stopper Slocombe.
As the temperatures plummeted after the break the hosts tried to warm up their supporters courtesy of a well-constructed move.
Matt’s impressive hold-up work brought Mellor into play, but the full-back’s fiercely hit strike from the angle flew just over Artur Krysiak’s goal.
That chance sparked a period of dominance for Gary Bowyer’s side, as the Lancashire outfit introduced attacking duo Nathan Delfouneso and Sanmi Odelusi.
The pair, who were making the debuts, both made an instant impact as first Delfouneso curled an effort just wide from the edge of the box before Wigan loanee Odelusi forced a fine save from Krysiak after an instant control and shot.
Now in control at Bloomfield Road, the Seasiders equalised with 20 minutes remaining in what Yeovil will feel was contentious circumstances.
Attacking down the Blackpool right the Glovers were denied a blatant handball, before the home side charged downfield with purpose.
The skilful Delfouneso worked his way to the by-line before picking out Mellor at the back post who couldn’t miss, leaving Town to point towards referee Carl Boyeson.
Pegged back, Way handed exciting Tottenham loanee Shayon Harrison his debut with a little over 10 minutes remaining in search of a much-wanted win.
In fact, it took Yeovil just three minutes to re-take the lead through the unlikely source of Ward.
Good work from Eaves down the right saw his low cross caused chaos in the box, with the Glovers captain in the right place at the right time to produce a striker’s finish from close range after Slocombe could only parry.
Frustrated from falling behind, Matt piled into Ryan Dickson in the air after the restart, resulting in the Town left-back being stretchered off the pitch with a broken nose and no caution for Blackpool’s striker.
That prompted nine minutes of injury time at the end of the half which the hosts benefited from as Delfouneso prodded home from a set-piece that was contentially awarded for handball.
In yet more late drama, Eaves saw a superb volley cannon off the bar, before the Green and Whites had to settle for a second successive draw in Sky Bet League Two in a game crammed full of drama.
Blackpool: Slocombe; Mellor, Aimson, Aldred, Robertson; McAllister, Pugh, Yeates (Odelusi 60’); Osayi-Samuel, Matt, Philiskirk (Delfouneso 60’).
Subs not used: Lyness, Cullen, Nolan, Gnanduillet, Des Pres.
Yeovil Town: Krysiak; Shephard, Ward, Smith, Dickson (Mugabi 89’); Dawson, Butcher, Dolan; Zoko (Harrison 77’); Sowunmi (Whitfield 70’), Eaves.
Subs not used: Maddison, Lacey, Goodship, Storer.