The Valiants went ahead just shy of the half-hour mark through experienced striker Tom Pope as the Glovers struggled to turn possession into chances.
They eventually restored parity midway through the second half when Khan poked in from inside the six-yard box after a mistake from Kelle Roos.
James Gibbons was sent off with nine minutes to play for a second bookable offence but Town couldn’t capitalise on their one-man advantage.
After declaring everyone fit in his pre-match press conference, manager Darren Way was dealt with two injury blows with defenders Tom James and Bevis Mugabi missing out due to knocks picked up in training on Friday.
There was good news for Olufela Olomola, however. The Southampton loanee recovered from a leg problem to partner Francois Zoko in attack.
Elsewhere, Khan and Connor Smith returned to the fold, while Daniel Alfei featured for the first time since August.
Unfortunately for the latter, he was forced off with an injury after 10 minutes and replaced by AFC Bournemouth loanee Matt Worthington – his second outing for Town.
Other than a tame Pope shot which trickled into Artur Krysiak’s hands, little of note occurred in the first 18 minutes until David Worrall squandered a gilt-edged chance from close range.
Full debutant Gibbons’ whipped cross from the right was met by the onrushing Worrall but the ex-Millwall man’s eight-yard volley flashed past the post.
Worrall turned provider in Vale’s next attempt, clipping a ball into the box for Pope to nod over.
It wasn’t long before the big frontman had another headed chance and this time, he made no mistake.
Tyler Denton’s looping delivery beat Krysiak’s outstretched arm and Pope climbed above Ryan Dickson at the back post to net his first of the season.
The Glovers rallied from the restart with Jake Gray sending a left-footed warning just wide and Khan drifting off his wing and producing a similar outcome.
Zoko then went into the book for dissent as the hosts’ frustrations started to tell.
Yeovil saw a lot of the ball in the early stages of the second half and Khan went close with a shot just over the bar.
Gray had a go from a comparable distance, which in turn found the away terrace, as the home side stepped up their intensity.
Shortly after, Zoko created space and found Olomola who sent a low left-footed strike on the turn towards the bottom corner but Roos got down to thwart the youngster.
The Port Vale stopper, on an emergency loan from Derby County, then dropped a clanger to gift Town an equaliser.
Worthington released Gray down the right and his teasing cross was fumbled by Roos and bundled home by Khan.
The tricky wide man was later involved in a bizarre incident which saw Gibbons sent off.
Khan was pulled back by the young right-back in an earlier passage of play and when he was booked for complaining, Gibbons received his second yellow.
It didn’t change the outcome in Somerset as Yeovil had to settle for a point against the Staffordshire outfit.
Yeovil Town: Krysiak, Alfei (Worthington 10), Nelson, N.Smith, Dickson, Gray (Green 85), Bailey, C.Smith, Khan, Olomola (Surridge 73), Zoko.
Bookings: C.Smith 27, Zoko 43, Bailey 71, Khan 81, Dickson 90.
Subs not used: Maddison, Davies, Santos, Browne.
Port Vale: Roos, Gibbons, Kay, Anderson, N.Smith, Denton (Wilson 60), Tonge, Worrall, de Freitas, Pope (Middleton 88), Turner (Pyke 65).
Bookings: Gibbons 74, 81, Kay 90.
Sending off: Gibbons 81.
Subs not used: Hornby, Gunning, Whitfield, Barnett.