Real Madrid just about shaded what was an even contest for long spells, but the Spanish champions could not make the breakthrough as they were held at the home of their rivals.
As for Atletico, who are still unbeaten in the league this season, Angel Correa was selected alongside Antoine Griezmann in attack, with Koke and Saul Niguez playing off either side of what was a narrow midfield.
Atletico should have taken the lead in the third minute when a mistake from Raphael Varane presented Correa with the ball inside the Real box, but the attacker somehow missed the post.
It was like a basketball match in the opening 15 minutes as the play flowed from end to end, although both teams were let down by the final pass on a number of occasions.
Gabi struck a volley over the Real crossbar in the 25th minute as Atletico continued to enjoy good moments, while the visitors were struggling to release the likes of Benzema and Ronaldo in dangerous positions.
Toni Kroos had Real's first serious chance of the night in the 32nd minute, but the German, having burst into the Atletico box, could only send his low effort wide of the post.
Ronaldo then tested Atletico goalkeeper Jan Oblak with a long-range free kick, before Sergio Ramos headed wide of the home side's post from close range as the Spanish champions started to force the issue.
Los Blancos finished the first half on the front foot, but an opening 45 minutes which produced just one shot on target ended goalless.
Ramos had to be replaced at the interval after taking a kick to the face in the latter stages of the first period, with Nacho entering the field for the away side.
It was Real Madrid that started the second half on the front foot, and that prompted a change from Atletico as Yannick Ferreira Carrasco was introduced with the view to supporting Griezmann in the final third of the field.
Saul fired one over the away side's crossbar in the 56th minute of action, but both teams were still struggling for that final piece of quality as the derby stayed goalless approaching the final 25 minutes.
Ronaldo had a half-chance in the 75th minute after being fed by Modric inside the Atletico box, but the Portuguese fired his effort wide of the post.
Gameiro had a golden chance to send Atletico ahead in the 78th minute after breaking into the Real Madrid box, but the Frenchman's chipped effort was cleared off the line by Varane.
Oblak then had to palm away a free kick from Ronaldo in the 81st minute, before the Slovenian kept out a Kroos effort five minutes later as Real Madrid continued to press.
Ronaldo was to have one more chance after being released inside the Atletico box, but Lucas Hernandez was across to make a stunning block as the points were shared in the first ever Madrid derby at the Wanda Metropolitano.