Mike Hanke had put the hosts in front but the Turkish midfielder's effort shortly after the break ensured that both teams took a share of the points in the Bundesliga clash
The hosts took the lead on the stroke of half-time through Mike Hanke, but the visitors hit back soon after the break, with Tolgay Arslan smashing the ball past Marc-Andre ter Stegen.
The first-half started off slowly, with both sides eager to give nothing away, but eventually, chances began to be crafted with Arslan forced a solid save from Ter Stegen from the edge of the area.
Igor De Camargo scuffed a presentable opportunity, running on to a chipped ball from Hanke, but his ball across the face of goal was tame and easily cut out for a corner.
Marco Reus swung in the resulting set-piece, which Roel Brouwers met brilliantly at the far post. But unfortunately for Lucien Favre's side, Dennis Diekmeier was well-stationed on the line to clear the Dutchman's shot away.
Juan Arango shot narrowly wide as the hosts searched for the opener, before a second inopportune slip from De Camargo stopped the Belgian from putting his side ahead.
At the other end, Hamburg had tame appeals for a penalty against Arango turned down as the Venezuelan shoulder-barged Arslan, and it appeared as though the first-half would end goalless.
It was not to be, however. Arango curled in a free-kick which Hanke met brilliantly, sending the ball into the bottom corner. Hamburg appealed for an offside, perhaps justifiably, but no such decision was forthcoming.
Far from being shell-shocked by falling behind so late in the first period, the visitors came out from the break with renewed vigour.
Jose Paolo Guerrero cut in from the left before feeding Arslan, who swiped at the ball, sending it comfortably over the bar when he could have done better.
Minutes later the ball broke to Marcel Jansen at the edge of the box after some suspect defending from the hosts, but he could only send the ball straight at Ter Stegen.
Some excellent defending from Brouwers prevented Guerrero from latching onto a set-piece, but from the resulting corner, Hamburg drew level.
Guerrero met Aogo's delivery, padding the ball into Arslan's path. The Turk swivelled, and blasted the ball into the bottom corner.
It took some time for Monchengladbach to get back into the match, but they nearly regained the lead with just 15 minutes remaining.
A loose ball broke to Havard Nordtveit on the edge of the box, but the Norwegian's powerful shot was well saved by Drobny.
At the other end, Arslan sent a decent shot into Ter Stegen's arms, but it was not to set a precedent as the hosts continued their assult on goal.
Arango missed a great opportunity to clinch all three points in the dying moments, nodding Reus' corner comfortably wide after being found completely free in the area. It would prove to be the last real chance of the game, and referee Gunter Perl soon blew the whistle to signal full-time.
Hamburg had survived the barrage, and a victory for either Bayern Munich or Schalke on Sunday will see them overtake Monchengladbach in second place. The result sees HSV draw level on points with Wolfsburg, and into eighth place.