Levante grabbed a late equaliser to earn themselves a deserved draw as Real Madrid threw away the lead twice.
Madrid had dominated the first half, and led through Sergio Ramos' header early on, with the Spanish defender rising to head home a corner for his 50th league goal for Real.
But Levente struck back when Emmanuel Boateng equalised with a well-placed shot after Jose Morales' initial effort was saved by Keylor Navas.
Zinedine Zidane's men looked to have done enough for the win when Isco smashed home from inside the box after Karim Benzema's cut back.
But the drama was not over as Giampaolo Pazzini ensured the hosts earned a points for their efforts when Navas failed to keep his shot out with just minutes remaining.
Levante: Oier, Pier, Doukoure, Lerma, Morales, Coke, Ivi, Postigo, Lukic, Boateng, Luna
Subs: Vegas, Roger M., Bardhi, Pazzini, Cabaco, Lopez, Jason
Real Madrid: Navas, Carvajal, Ramos, Varane, Marcelo, Kroos, Modric, Casemiro, Bale, Ronaldo, Benzema,
Subs: Casilla, Nacho, Theo, Lucas V., Asensio, Isco, Kovacic