Tranmere almost went ahead after 17 minutes in Saturday's League One clash at Prenton Park but Chris Weale kept out Ian Moore's close-range shot with an outstretched leg.
But the Glovers gave as good as they got throughout and it needed a fine diving save by home keeper Danny Coyne to keep out a well struck Andros Townsend effort in the 21st minute.
Ryan Shotton headed over for Rovers from an Andy Taylor free-kick before at the other end Townsend was only just off target with an excellent angled effort.
The visitors remained the brighter side after the break and Coyne did well to turn aside a close-range shot by Gavin Tomlin before Danny Schofield rattled the home crossbar with a 25-yarder just short of the hour.
But Yeovil took the lead midway through the half when Jon Obika netted at the far post from a difficult angle after good link up play with Tomlin.
Kay and Ben Chorley had no luck for Rovers before Obika came within inches of a second for Yeovil, but Rovers levelled thanks to a fine left-foot strike by Kay from a long throw by Shotton.