Double strikes from both Fernando Torres and Yossi Benayoun were only good enough to salvage a point for the home side.

The result leaves Liverpool level on 71 points with Manchester United on top of the Premiership table. However The Red Devils still have two games in hand.

Liverpool had a great start to the game and Arsenal keeper Lukas Fabianski was alert to deny Benayoun and Torres on early occasions.

In the 31st minute, Samir Nasri cleared a Daniel Agger header off the line.

However, the Gunners took the lead against the run of play when Nasri capitalized on an error from Javier Mascherano to release Cesc Fabregas, who squared to Arshavin to tap in off the bar.

In the second half, Liverpool scored twice within the space ten minutes (49 and 56) to set the game alight and send the home crowd into raptures.

Arsenal were not done yet, as another dreadful mistake from Alvaro Arbeloa gave Arshavin possession. The latter was ruthless as he fired a powerful shot past Giuseppe Reina.

A third Liverpool error from Fabio Aurelio gifted Arshavin his third on 70 minutes.

Despite Torres' second strike two minutes later, Arshavin was there once again to wrap up a perfect Arsenal counter and slot a left-footed effort into the Liverpool net on 90 minutes.

Rafael Benitez's side refused to leave the game empty handed, as Benayoun equalized three minutes later.

Watch the game's goals