Day four begun at the WACA with all three results still a strong possibility as the Bulls looked to claim the final WA wickets before setting themselves for a chase.
Warriors tail-ender Jason Behrendorff played the perfect supporting hand for all-rounder Ashton Turner who brought up his century before his side declared eight wickets down, leaving the Bulls needing 297 for victory from 38 overs.
Joe Burns hit his first century of the Sheffield Shield season to have his side in with a strong chance of chasing down the runs, while he received solid support from Marnus Labuschagne who scored 72 to bring up his second half-ton of the match.
The Bulls needed 50 runs off the last 39 balls, and that equation became a manageable 34 off 32 courtesy of Charlie Hemphrey (60 off 52 balls).
But some tight bowling from WA captain Mitch Marsh (2-49) and Matthew Kelly (5-60) at the death denied Queensland victory.
The Bulls needed 12 runs off the final over, but Kelly restricted them to just five runs with the visitors finishing on 7-290.
The draw leaves Queensland second on the Sheffield Shield table, with the team next in action against South Australia in Cairns.
Not long to go until the #SheffieldShield comes to Cairns when the @myFootDrAu QLD Bulls meet South Australia, starting on Sunday Dec 3. Put it in the diary for what should be a great game! pic.twitter.com/6GH7LXmqMF