Arsenal's title bid ended at the Reebok Stadium probably Tamir Cohen follows a thrilling victory to Bolton later.
The Israelis powered a header in the 90th minute past Wojciech Szczesny, then removed his shirt to reveal a picture of his late father Avi, who died in December after a motorcycle accident, before bursting into tears.
The loan Chelsea striker Daniel Sturridge opened the scoring in minute 38, while Kevin Davies also missed a penalty for Bolton at the start of the second half before Robin van Persie scored a 48-minute equalizer.
The result left Arsenal nine points behind Manchester United and three behind Chelsea with just four games remaining.
The first half was a story familiar to fans of Arsenal, the Gunners hits the possession, but the difficulty of creating clear chances, while Bolton's direct approach paid off.
Probably the Gunners opening a clearer within four minutes when Cesc Fabregas Theo Walcott played right.
The England man strike was denied by Jussi Jaaskelainen and Samir Nasri had his follow-up effort blocked by a combination of Gary Cahill and Zat Knight.
Arsenal's pace seems to be the biggest threat for the hosts and a little rest Fabregas forced Jaaskelainen to tip his effort round the post 25 yards before a rain of Robin van Persie was well blocked by Cahill.
Bolton gave as good as they were, however, and probably should have been ahead on 24 minutes when Sturridge made the Arsenal defense napping with a superb pass from Lee Chung-Yong, but he chose to Korea clear attempt to Kevin Davies and chance was lost.
Lee had another golden chance on 37 minutes, again courtesy of a chip architect Sturridge beautiful in the center of the box. The end did a good touch to eight feet, but Szczesny was his line quickly and blocked the shot.
It is undeniable that the resulting corner Bolton, however, that Sturridge made the discovery. Lee Cross was headed straight for goal by Cahill and impressive, although the line Nasri, Sturridge was asked to head the ball.
Fabregas almost square things before the break but his shot 20 yards hit the post with Jaaskelainen well beaten.
Things got worse for Arsenal in the first minute of the second half and Sturridge was again causing problems.
The striker was clean the last turn and Johan Djourou, when Sturridge in the area came under pressure from Arsenal defender, referee Mike Jones, said on the site.
Captain Davies strengthened, but his effort was grown and the right Szczesny, easily blocked the shot.
It seemed inevitable that Arsenal could use his second chance and a little over a minute after the penalty, Van Persie picked the ball to the right and Fabregas played a wall before placing the ball just inside the ext.
It was the seventh successive away game in which the Dutch are in the network - a new record in the Premier League.
Bolton responded well, but were indebted to their goalkeeper to keep the level at which Nasri, Van Persie ran on 65 minutes pass.
The French have been in space, but Jaaskelainen was great to block the initial shot, and as the ball bounced back to Nasri, the angle is too tight and Cahill was able to lock up.
Arsenal pressed, but Bolton defended magnificently and they are the ones who have created a clear chance when Johan Elmander implored Arsenal took advantage of a defensive slip to run into the box and shot in Szczesny, which has done well to palm behind .
There was no stop Bolton from the corner, though, as Taylor Cross selected the head of Cohen, who had replaced six minutes before Sturridge.
With the game on 90 minutes, the Israeli powered a header into the back of the net for his first goal of the season.
Cohen broke into tears when he was mobbed by teammates, but it was Arsenal who were left helpless moments later, Jones' final whistle.