Pawlowski volleyed home from the edge of the area in the 76th minute after goals from Javi Guerra and Humberto Osorio in the space of 10 second-half minutes had put Valladolid in charge.
Malaga had previously not conceded in their last three games but were twice undone from set-pieces after Roque Santa Cruz had broken the deadlock midway through the first half.
Osorio wasted a glorious chance to put the hosts ahead after shooting tamely wide from a good position in the opening minutes of the encounter.
Javi Guerra then failed to connect cleanly from Valdet Rama's cross.
Valladolid's profligacy would come back to haunt them as Malaga took a 23rd-minute lead very much against the run of play through Santa Cruz.
The former Bayern Munich and Blackburn striker was picked out inside the area by Fernando Tissone's pass and the Paraguayan managed to curl delightfully into the top left corner.
Malaga sought to take advantage of their fortune by doubling their lead, but Vitorino Antunes shot wide from a long-range free-kick while Francisco Portillo fired over the bar from 25 yards.
Marc Valiente then made a timely block to repel Malaga attacking midfielder Pedro Morales' strike from the edge of the box and keep the deficit to just the one goal at half-time.
The hosts responded in the right manner after the interval but their finishing continued to let them down, with Osorio heading wide and Omar Ramos also missing the target with his strike from just outside the area.
However, their persistence was rewarded in the 56th minute by Guerra, who slotted home from Patrick Ebert's outswinging corner from the right.
Guerra immediately missed out on the chance to turn the game on its head completely after shooting weakly over the bar from a good position.
The momentum was firmly with the Pucela and they made it count in the 64th minute, with the Andalusians once again undone from a set-piece.
Another Ebert corner from the right caused havoc in the visitors' backline and Osorio rose highest to head past Malaga goalkeeper Willy Caballero.
Colombian forward Osorio then headed over shortly afterwards as Valladolid sought to kill the game off.
Malaga, however, weathered the storm and drew level with their first real opening of the second half, with Nacho Camacho's cross from the right channel drilled home by Pawlowski in the 76th minute.
The goal completely changed the momentum and it was Malaga with the bit between their teeth in the closing stages.
Mounir El Hamdaoui rattled the bar from 30 yards, while Valladolid keeper Diego Marino was on hand to tip away Santa Cruz's strike from distance to ensure the spoils were shared.