In a thrilling end-to-end contest, both teams battered the defences as they looked for goals non-stop and the result was 90 minutes of sheer entertainment for the fans.
After just under half-an-hour of entertaining end-to-end sparring, in which both sides made it clear they wanted to play football, Leicester took the lead through former Hartlepool player Steve Howard.
Matt Oakley won good possession on the right and fed Howard outside him. The big striker raced into the area before hammering his low angled shot between keeper Arran Lee-Barrett's legs on its way into the net.
But they were only ahead for four minutes, Hartlepool coming back with a disputed penalty.
Leicester claimed Joel Porter took a dive when he appeared to be tripped from behind by Jack Hobbs before Porter lashed his 18th goal of the season into the top corner from the spot.
Again the two sides took it in turns to attack, Hartlepool going closest in first-half stoppage time when Porter's shot from the left was pushed round the post by City keeper Mark Bunn.
The second half was full of incident as the teams took it in turn to attack, Lee-Barrett saving bravely at the feet of Howard as the big man raced in and did the same to top scorer Matt Fryatt after he cut inside from the right.
At the other end, Michael Nelson's low shot from 12 yards was just wide of the target after a Hartlepool corner.
But Leicester jumped back in front on 80 minutes when Howard scored from the spot after Lee-Barrett was harshly adjudged to have fouled Bruno Berner in the area, and City looked home and dry.
But Hartlepool refused to give in, and in the last minute they got what they deserved when Antony Sweeney crossed from the right and Andy Monkhouse blasted a spectacular volley into the roof of the net from 15 yards.