Augsburg now mov off the foot of the table thanks to the point at the Rhein-Neckar Arena.
Sascha Molders put the away side in front after half an hour, but Peniel Mlapa levelled before the break.
A Sejad Salihovic penalty then put Holger Stanislawski's side ahead early in the second half, but Augsburg hit back with Sebastian Langkamp levelling in the 72nd minute.
Augsburg had the best chances to win the game, but will still welcome the point, which lifts them above Freiburg ahead of their match against Werder Bremen tomorrow.
Visiting striker Torsten Oehrl missed the first big opportunity of the game in the 13th minute as he was put through clear on goal with only Tom Starke to beat, but the Hoffenheim goalkeeper won the duel to push the ball behind for a corner.
Molders was the provider for that Oehrl chance and it was him who netted the opening goal for Augsburg in the 31st minute.
He converted a cross from Hajime Hosogai which was knocked on to him by Langkamp, beating Starke with a low shot from 12 yards.
Their lead lasted just seven minutes, though, before Mlapa levelled.
He was put through by Salihovic and his lobbed shot over Simon Jentzsch had just enough power on it to beat Langkamp's attempt to make a goalline clearance.
Salihovic then gave Hoffenheim the lead from the penalty spot in the 51st minute after Jan Ingwer Callsen-Bracker had felled Roberto Firmino inside the area.
Hoffenheim failed to add to their lead, though, and they were punished midway through the second half when Daniel Baier's corner was met at the far post by Langkamp, who headed in an equaliser.
Molders hit the crossbar as Augsburg went in search of a winner, which they nearly got late on when Callsen-Bracker's header was saved well by Starke.