The visitors made the breakthrough in the first half thanks to Aaron Ramsey’s close-range finish at White Hart Lane.
Francis Coquelin was sent off after a second yellow card and Tottenham defender Toby Alderweireld levelled in the 60th minute.
England striker Kane put Tottenham 2-1 up with an outstanding finish from an acute angle before Alexis Sanchez equalised with 16 minutes remaining.
And retired Three Lions skipper Shearer was impressed with Kane’s strike against the Gunners in the north London derby.
“It was a world-class finish. It was absolutely brilliant to watch,” Shearer told Match of the Day.
Kane has scored 17 goals in 29 Premier League appearances for Mauricio Pochettino’s side so far this season.
The Tottenham striker has been linked with a move to Manchester United over the past 12 months.
Spurs are in action against Borussia Dortmund in the first leg of their Europa League last-16 clash on Thursday night.
MORE: The latest football news