Charlie Austin's second-half equaliser salvaged a point for the Saints at the Vitality Stadium on Sunday afternoon.
Bournemouth had a penalty shout waved away after Adam Smith was hauled down by Sofiane Boufal in the first half.
Ryan Fraser opened the scoring with his first goal of the season as Wesley Hoedt was dispossessed by Josh King.
Austin's emphatic first-time finish levelled matters in the second half for Southampton at the Vitality as both sides had plenty of chances.
Their were changes aplenty for the Premier League's fifth instalment of this relatively new South Coast derby.
Eddie Howe made five changes from Wednesday's disappointing 2-1 loss at home to Burnley, whilst Mauricio Pellegrino made six changes to his side on the back of a cruel last-minute winner from Raheem Sterling on the same night.
Notable inclusions were Jeremy Pied's first Premier League start of the season following Cedric's absence and Jermain Defoe replacing Callum Wilson up front for the Cherries.
Early chances
The visitors enjoyed the majority of possession in the early stages with Austin being prevented from a shooting opportunity due to a last-ditch Nathan Ake tackle. Virgil van Dijk and Dusan Tadic also headed two chances off-target within three minutes of each other.
Fraser Forster produced a stunning reactive save to flick over his bar, tipping over Defoe's guided effort inside the six yard box from Smith's driven shot in the 19th minute.
The Southampton keeper then palmed away Ake's header from the following corner as the home side finally found their feet after a sluggish start.
Penalty shout for both sides
Bournemouth had a contentious shout for a penalty on the half-hour mark as Boufal slid in rashly, hauling down Smith. Jon Moss booked Smith for simulation although it did look like the Cherries full-back had been caught.
The visitors then had a less obvious shout for spot-kick as Tadic's rising shot was deflected behind by Simon Francis, the ball hit the centre-back on the shoulder but it was too close to be deliberate - it would have been harsh but they've been given before. Asmir Begovic had produced a fine acrobatic save shortly before the incident from Austin's header.
Charlie Daniels nearly produced another incredible volley similar to the one he scored against Manchester City in August. The ball sat up nicely for the full-back and his rasping volley was inches past the right-hand post, Forster was well beaten.
Cherries open scoring before half-time
The home sides growing dominance finally told as Fraser opened the scoring with his first Premier League goal of the season due to sluggish defending from Wesley Hoedt. Hoedt dithered on the ball and was intercepted by busy work from Josh King.
King eventually spread the ball to the onrushing Fraser, via Surman, who was unmarked and the Scottish international placed the ball in the right-hand corner.
Boufal had a golden opportunity to instantly equalise as Ryan Bertrand squared the ball to him in the box, but he lacked any sort of composure and leaned back, and fired well over.
The Cherries deservedly led at half-time thanks to a composed finish from Fraser in a lively first-half at the Vitality Stadium where both sides had chances.
Game continues frantic pace
Begovic prevented the Saints again straight after the break as Boufal drove a shot across his box but the former Chelsea keeper got down well to his right to prevent it.
King came agonisingly close to doubling the home sides lead as the game continued its relentless pace in the 2nd half. Junior Stanislas was inches away from getting a definitive touch at the back post. That same man was again prevented from a diving save from Forster just before the hour mark.
Austin equalises
Saints continued to push for an equaliser as Tadic was denied twice in under a minute from Begovic. The pressure finally told as Austin finished excellently from Nathan Redmond's driven cross. Growing pressure from the visitors allowed substitute Redmond to find space on the right-wing and he found Austin unmarked in the box.
Austin finished with aplomb and his first-time drive finally beat Begovic to his right. It was Austins third goal in three games.
Austin could have given his side the lead two minutes later but Bertrand's driven cross was inches away from him. The visitors dominance since the equaliser forced Howe into a double change as Jordon Ibe and Callum Wilson replaced Stanislas and Defoe.
Forster produced another fine save fifteen minutes from team as he tipped away King's effort. Fortunately for the visitors Wilson couldn't get the rebound under control. Austin had another chance of his own to add to his tally but he could only head over from another Bertrand cross.
Ake could have won it at the death with a header over the bar from a corner, but it would have been harsh on the visitors.