A Theo Robinson header and a goal from Simon Johnson cancelled out first-half strikes from home midfielders Stefan Oakes and Gary Holt.
Promotion chasers Hereford would have found themselves behind as early as the third minute if it wasn't for Kris Taylor, who was on hand to clear the ball off the line from a shot from Wycombe's Argentinian winger Sergio Torres.
However, Hereford keeper Wayne Brown could not do anything about Stefan Oakes 25-yard strike on six minutes.
After receiving the ball from Torres the Wycombe midfielder let fly leaving Brown with no chance in the Bulls goal.
However, after going behind Graham Turner's men took the game to Wycombe and looked threatening through the strike pairing of Steve Guinan and Robinson.
Wanderers wingers Matt Bloomfield and Torres started to apply more pressure on Brown's goal, but it was Hereford who should have been level on 44 minutes.
John McCombe was played in by captain Ben Smith, but the centre-back with only the keeper to beat smashed his shot against the bar.
Instead of being level at the break they found themselves two down when a speculative 25-yard effort from Gary Holt beat Brown for the second time.
Both sides pushed forward in search of that critical third and it finally came on 86 minutes when Robinson gave Hereford hope after he rose well at the back post to head home a teasing Toumani Diagouraga cross.
The Whites piled on the pressure late on and substitute Johnson grabbed an equaliser on 89 minutes when he crashed a shot home from 12 yards.
Johnson nearly completed a dramatic turnaround on the stroke of full-time, but after a fantastic driving run his shot was pushed around the post by the outstretched arm of Rab Douglas.