Both sides struggled to create any clear goalscoring chances during the opening exchanges as the respective defences were on top.
However, just when it looked as though the two sides would be heading into the break at 0-0, Brazilian defender Felipe found space inside the area to put the home side in front with 43 minutes played.
Schalke's response after the break was positive and they hauled themselves back level in the 53rd minute courtesy of last season's leading goalscorer Klaas-Jan Huntelaar from close range.
The visitors began to control proceedings and looked to have claimed all three points when Lewis Holtby collected possession from Jermaine Jones, before sending the ball into the far corner of the net in the 64th minute.
Hannover boss Mirko Slomka responded to going behind by replacing goalscorer Felipe with Adrian Nikci in the 77th minute. The Swiss midfielder's impact was instant as he converted a pass from Jan Schlaudraff just three minutes later to earn his side a share of the spoils.