Al Sadd, leaders of Group B before the start of the match at Jassim Bin Hamad Stadium, dominated most of the opening half but were behind at the break after visiting skipper Farhad Majidi struck twice.
However, Al Sadd turned it around in the second period with Khalfan Ibrahim and substitute Hasan Haydos both on target.
The draw was enough to keep Al Sadd at the top of the table while Esteghlal are four points behind them with a game to play.
Esteghlal started well and forced a corner in the fourth minute of the match.
Al Sadd’s defence thwarted the danger momentarily but a throw in soon afterwards saw the visitors score the first goal.
A casual throw in made its way into the Al Sadd box where captain Majidi - who was unmarked - headed home helped by a big deflection as the ball looped over goalkeeper Mohammed Saqr.
In the 15th minute, Al Sadd striker Abdul Kader Keita dribbled past two defenders but his shot from close range was smartly held by goalkeeper Mohammad Mohammadi.
Four minutes later, a similar move was blocked by Mohammadi when the Al Sadd striker was set to strike close to the penalty spot.
Four minutes later, powerfully-built Keita bustled his way through the Esteghlal defence but his shot went past the post with goalkeeper Mohammadi well beaten.
Three minutes later, Al Sadd's Ibrahim launched a solo effort but his fierce shot was blocked by goalkeeper Mohammadi.
In the 26th minute, defender Nadir Belhadj adopted a long-range policy by firing a missile around 30 yards from goal. Belhadj's shot beat the goalkeeper but also the far post.
After dominating play for the opening 20 minutes, poor defending cost Al Sadd another goal as captain Majdi found the net for the second time in the match.
After collecting the ball inside Al Sadd box, Majidi hoodwinked Al Sadd captain Abdulla Koni and Leandaro before slipping the ball past goalkeeper Saqr who made an awkward dive in his attempt to save.
Nine minutes into the second-half, the home side pulled one goal back.
Former Gamba Osaka striker Leandro chipped in a pass from close to the corner flag and, sensing his chance, the diminutive Ibrahim barged his way into the box, stopped the ball with his left foot and then quickly fired home.
After pounding the Esteghlal defence with a series of attacks, Al Sadd scored their second through substitute Haydos with 15 minutes left.
Ibrahim played a pass across the visitors' box for Haydos who, after dribbling past one defender, produced a fine left-footed strike that dipped into the net.