The home side had a chance to open the scoring just two minutes into the match when David Barral tried to head the ball in from a corner, but his finish was a fraction wide of the post.
Alberto Lopo thought that he had broken the deadlock just moments before the half-time whistle when he slotted the ball past the keeper, but the assistant referee raised the flag for offside, resulting in the goal being chalked off.
The home side started to see more of the ball, and had a chance shortly before the hour mark when Victor Casadesus found himself in space in the box, but he rushed his shot and sliced it well high of the crossbar.
Marino had to remain alert between the posts though, as Cavaleiro tried to find the target again, but he fired the ball straight at the Levante keeper.
Jose Morales tried to set up a late winner for the hosts inside the final 10 minutes, but his delivery failed to find any of his teammates, ensuring that the sides finished level.
The result keep Levante just two points clear of the relegation zone, while Deportivo are just two spots higher in 15th.