Defender Michael Keane, on loan from Manchester United, nodded in Martyn
Waghorn's corner in the fourth and final minute of added time to snatch a point and help boost their hopes of promotion.
Leicester are in fifth, eight points from second-placed Watford and with a game in hand, Pearson said: "It was really good to get something out of the game even though it was such a late goal.
"I thought we deserved it. We certainly didn't deserve to lose. We showed some good form in the first half but conceding the goal we did knocked us out of our stride a little bit.
"But the players showed a lot of desire and determination to get back into it. Leeds were a very hard working side and got themselves in front.
"Keane has done great for us so far and is clearly going to be a very good player. He is a big lad and is very positive about the way he attacks the ball. I think his goal was just reward for us."