The Gunners had raced into a two-goal lead thanks to Olivier Giroud’s header and Lukas Podolski’s close-range finish.
But Berbatov nodded home from a corner in the 29th minute, before the Bulgarian teed up Alex Kacaniklic’s 40th-minute equaliser.
Fulham then took the lead in the 67th minute when Berbatov netted a penalty after Mikel Arteta fouled Bryan Ruiz in the box, but Arsenal equalised moments later through Giroud.
The Gunners could have snatched a dramatic win but Arteta missed a last-minute penalty as Arsène Wenger’s men were forced to settle for a point at The Emirates.
“It could have been 3-5 to us,” Jol, whose side are eighth in the table, told BBC Sport. “We broke time after time and created chances, but it was horrible to see us concede.
“It was good to see Berbatov play so well, and in the second half I thought we played fantastically. Berbatov is certainly our penalty specialist, and today it was cool. He’s a quality player.”
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