Steven Davies scored with seconds to spare to cancel out Harry Kane's 89th-minute penalty and secure Rochdale a trip to Wembley.
It looked like Spurs had sealed the victory with minutes to go as Dele Alli earned them a late penalty which was converted by Harry Kane.
However, the Dale did not accept defeat as minutes later they went up the other end and bagged themselves an equaliser.
Lucas Moura had levelled the proceedings in the second-half following Ian Henderson's first-half opener.
The Dale will now face a trip to the national stadium in a replay game against Spurs.
Davies the hero
A composed finish from Steven Davies secured the Dale a trip to Wembley following some poor defending from the visitors.
The returning Toby Alderweireld failed to deal with the cross which fell to Davies whose neat turn left him with the chance to write his name into Rochdale history.
His neat finish from 12 yards was too much for a helpless Michel Vorm who had been pretty much dormant for the majority of the game.
The draw was fully deserved from the League One side. Although penned in their own half for the majority of the second 45 the hosts battled Spurs throughout.
His goal came in the last few seconds of the game and sent Spotland wild at the prospect of a trip to Wembley.
Ian Henderson put the Dale ahead moments before half-time, finishing off a brilliant move from the home side.
Henderson buried home an Andy Cannon, who was left in acres of space on the right hand side.
Having missed a number of great opportunities in the first-half, Henderson gave the League One side a well-deserved lead.
Fantastic counter-attacking football from Rochdale all came from poor defensive work from Spurs as their attacking approach left them short at the back.
Harry Winks was caught in the middle of the park which began the counter-attack whilst the majority of Tottenham's defence sat high up the pitch.
Debutant Lucas Moura levelled the proceeding after 59-minutes as he latched onto a superb assist from Moussa Sissoko.
Having started the game well, Lucas marked his full Spurs debut with a goal to remember.
The visitors had not had a great start to the second-half, failing to provide an offensive threat.
Tottenham's new £23M winger had been the visitors brightest spark throughout the game with his pace proving a constant threat to the League One outfit.
Kane to the rescue?
With just minutes to go Dele Alli was brought down in the Dale's box and earned Spurs a penalty.
Main man Harry Kane stepped up and the result of the penalty was never in doubt, hammered beyond a helpless Josh Lillis.
The resulting finish was never in doubt but what was to come shortly after, no one could imagine.
The penalty temporarily sending Spurs through to the quarter-final of the FA Cup but for a last-minute equaliser from Steven Davies.
Deserved lead for Dale
Tottenham's new signing Lucas Moura started the game brightly, beating the Dale midfield before brilliantly picking out Heung-min Son.
However, it was Rochdale who had the first good opportunity, Ian Henderson bluffed his one-on-one chance as he shot straight at Michel Vorm.
The Dale continued to grow into the game and had some good opportunities but Tottenham should have opened the scoring on 26-minutes.
After a goal-mouth scramble, Fernando Llorente blasted his shot wide from just yards out; a poor effort from a striker low in confidence.
Rochdale's go-to man Henderson bluffed another opportunity on the half-hour mark.
After a brilliant lofted through ball from Callum Camps the English striker shot well wide from close range.
It will certainly have been Rochdale boss Keith Hill who will have been the happier of the two managers at half-time.
Spurs left frustrated
The second-half brought much of the same for Spurs, a few good chances however, no real threat to a resilient Rochdale.
Llorente struggled to impose himself on the game and was replaced by Harry Kane to provide Spurs with a threat in front of goal.
Goalscorer Lucas Moura was also replaced due to a lack of first-team football despite being Tottenham's biggest offensive threat.
The Dale frustrated Spurs in the same way Newport County did at Rodney Parade, by giving their absolute everything in the biggest game of their careers to date.
Mauricio Pochettino was forced to bring the big guns on towards the end of the game but Keith Hill's side stood strong until the 87th-minute.
Yet the League One strugglers were not to be beaten and their heads did not drop as they battled until the very last second to earn themselves an emphatic draw.