The Terriers dominated for large periods and led through Lee Novak's penalty but Wood, who bagged a brace in a 6-1 win over Town on New Year's Day, ensured the sides will meet again at the King Power Stadium.
Caretaker duo Mark Lillis and Steve Eyre made four changes to the Huddersfield team, with Neil Danns and Jermaine Beckford ineligible to face their parent club. Jordan Sinnott made his full debut with Novak starting up front, while Oliver Norwood and Scott Arfield came in for Sean Scannell and Paul Dixon.
There were five changes for Leicester with Richie Wellens, Andy King, Lloyd Dyer, Jamie Vardy and Martyn Waghorn coming in for Danny Drinkwater, Matty James, Anthony Knockaert, David Nugent and Wood.
Huddersfield had the better of the opening exchanges without creating any real chances, but Peter Clarke should have put them ahead in the 11th minute as he got on the end of Norwood's corner but could only fire his header over the bar.
Sinnott was making a good impression in midfield and found Novak in space but the striker scuffed his shot wide.
The two combined again in first-half stoppage time as Sinnott linked with Novak on the edge of the box, but Ritchie De Laet's challenge prevented the striker from getting a shot away.
Kasper Schmeichel was called into action early in the second half as he made a smart save from James Vaughan's overhead kick as the home side continued to press.
Leicester boss Nigel Pearson was clearly unhappy with his team's attacking impetus and changed his strikeforce on the hour, with Wood and Nugent replacing Vardy and Waghorn. The changes very nearly brought a quick result as Wood hit a stinging shot from the edge of the area which Alex Smithies did very well to turn around the post.
Scannell was brought on for Sinnott, who had enjoyed an impressive debut, and he found Hunt with a raking pass. Hunt's cross found the lively Novak in the penalty area but his downward header was well saved by Schmeichel.
The substitute was making a real impact and had a hand in the opener in the 73rd minute as he beat four players before finding Hunt, who was felled by Dyer in the penalty area and Anthony Taylor had no doubts in awarding the penalty.
Novak stepped up and sent Schmeichel the wrong way with a firm spot-kick to give the Terriers the lead.
Clarke then saw a header cleared off the line as Huddersfield continued to press but against the run of play Wood grabbed the equaliser.
De Laet found Dyer, who deceived his man out wide and found Wood, who dispatched a clinical finish past Smithies.