Steve Bruce's men are winless in eight matches, but at least got a point for the first time in five outings after Romelu Lukaku had put the Toffees ahead.
On the back of four straight defeats and a morale-sapping 3-0 reverse at Manchester United at the weekend, Hull had dropped into the bottom three after Tuesday's results.
Everton attacked at will in the first half and took a richly deserved lead through Romelu Lukaku.
Steve Bruce's men had looked bereft of ideas before the break, but Aluko's introduction in the second half sparked them to life and the Nigerian pegged the host back with a fine individual equalizer.
Hull could have snatched all three points, but would have been happy with a draw which lifts it back above Burnley and into 17th place.
For Everton, the draw came on the back of a defeat at Tottenham on Sunday, somewhat checking its recovery from a whirlwind set of early-season defeats on home turf.
Desperate to turn his side's woeful run around, Bruce ripped up his Old Trafford teamsheet with four changes of personnel - captain Curtis Davies among those suffering the axe - and a switch from 3-5-2 to a 4-5-1 system.
Everton's incessant play was too much for Hull to hold back, with Kevin Mirallas and the reintroduced Leon Osman forcing Allan McGregor into action before the home side finally took a merited lead 11 minutes before the break through Lukaku's seventh goal of the season.
Having flicked the ball into the path of Mirallas, Lukaku showed great endeavor to get on the end of his fellow Belgium international's cut-back and bury a finish past the helpless McGregor.
Mohamed Diame spurned a gilt-edged chance to equalize just after the interval and was soon forced off with a recurrence of a recent knee injury, but his replacement, Aluko, provided the perfect impact.
Picking the ball up 25 yards from goal, Aluko burst past Sylvain Distin and into the penalty area before slotting past Tim Howard at the American's near post.
Aluko's presence energized Hull with the Merseysiders, and Distin in particular, shaken as he again beat the Frenchman before crossing for former Everton striker Nikica Jelavic, whose header dropped an inch wide of the left-hand post.
Neither side could muster another chance for a winner, with the home fans growing increasingly frustrated as Everton refused to take a direct approach and settled for a point.