Steve Bruce named a strong squad for the fixture with summer signings Tom Ince, Robert Snodgrass and Jake Livermore - who was on loan at the club last season - all featuring in the run-out.
Hull missed a host of chances in the first half, with Sone Aluko, Ince, Shane Long and Curtis Davies all spurning good opportunities.
But Ince, who rejected Inter to move to the KC Stadium, was brought down for a penalty in the second-half, with Long stepping up to convert from 12 yards.
Hull did not have it all their own way, however, as Ferriby missed a spot-kick of their own through Nathan Jarman two minutes later following a foul by Davies.
And with just 10 minutes left, the hosts drew level as Mark Gray headed home for the Conference North side. Hull protested the award of the goal, claiming the ball did not cross the line, but the referee did not budge and Ferriby escaped with a creditable result.
Hull also played Harrogate on the day, running out 5-0 winners in the fixture.