Two goals in the final five minutes denied Jordan the perfect stat to their AFC Asian U23 Cup campaign in China. Jordan appeared in control thanks to goals from striker Baha Feisal in the 12th and 80th minutes.
But their concentration slipped, allowing Saudi Arabia to pull one back five minutes from time through Abdullah Al Amri before Rakan Al Anazi levelled from the penalty spot in the dying seconds to make it 2-2.
Iraq are leading Group C after beating Malaysia 4-1 in the other match of the day.
Jordan meet Malaysia on Saturday, and finally Iraq on January 16 looking to land a top two place to reach the quarter-finals.