For the second consecutive matchday, Leipzig, which lost 3-1 last weekend at home to Borussia Dortmund, missed out on top spot.
"We can be happy with the way we played, but it's very, very annoying that we didn't win," Leipzig director Markus Kroesche said.
Embattled Bayern, which crashed to a 3-2 league defeat at Borussia Moenchengladbach and was then dumped out of the DFB Pokal in midweek, hosts Freiburg at home on Monday (AEDT).
It remains a point ahead of Leipzig on the table.
Julian Nagelsmann's side got off to a great start when Nordi Mukiele gave it an early lead after converting a pass from Emil Forsberg.
However, Wolfsburg roared back with goals from Wout Weghorst and Renato Steffen, which clipped the chest of Leipzig defender Willi Orban on its way into the net.
Orban made amends when he tapped home Leipzig's equaliser in the second half.