Mathews Macha put the hosts ahead shortly after the break but substitute Ahmed Salama brought the score level eight minutes from time.
Hodoud now have 2 points from as many matches. In their previous game, they had drawn 0-0 with Tunisia's Club Sfaxien in Alexandria.
While facing Zanaco, the army side had to do without a number of key figures, including Mohamed Hamed, Islam Al-Shater and Mathurin Kameni.
Much to Hodoud's woes, Egypt forward Ahmed Eid was taken off five minutes past the half-hour mark due to injury.
Salama replaced him and made the most of his introduction by scoring the late equalizer after connecting with a cross.
His tame effort hit a couple of Zanaco players before the ball settled into the net.
The Zambian outfit took the lead when Macha beat his marker Ahmed Abdul-Megid and scored from inside the area.
Hodoud, who are now in Group B second place, were quite satisfied with the result after the match.
"The game was tough. Getting a point really gave us a boost," coach Tarek Al-Ashri told Egyptian radio.
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Hodoud salvage point at Zanaco