Pearson saw his side take an early lead from the penalty spot before the Clarets earned a point with a Danny Ings goal in the second minute of the second half.
He reflected on Leicester's first half performance, during which he felt they should have done enough to have won the game. He said: "I think we probably should be talking about a win. For the most part it was a very good performance by us.
"In the first half we really did dominate the game and created a number of chances. I suppose today we will be talking about the fact we've not taken the number of chances we created against a very good side.
"It was a tight encounter but we had enough chances to win the game, there's no doubt about that. They will be disappointed that they didn't finish their best chance, but all in all we can go out of the game saying we played pretty well.
"I'm much more satisfied with how the players went about the game today and the drive that we've shown. We've not drawn many games this season and we try to win them all. Sometimes that means you flirt with losing games. I'm disappointed we didn't win it, but the application was there today."
If Dyche was disappointed it was during the first half and he outlined that after the game. "I thought the players were a bit naïve if I'm honest to come here and expect Leicester to not be on the front foot from the off," he said.
"Our passing was a bit slow and we didn't use the ball wisely, but after their goal I thought we grew into the game and got better as we went on. We were just playing too much one-touch football in the top third of the pitch, so we had to build better.
"Of course, we started the second half nice and bright, kept the ball better and got the goal. We talked about getting more bodies forward and for the goal there were three or four in there and in the end I thought we delivered a good performance."
He added: "Leicester are a good side with a really experienced group and they went close last season, but I thought my lads were terrific. The bond that we have and the spirit, energy and framework, but also the freedom to go and play is there and in the second half we had all that in abundance.
"You can't be brilliant every week, but we have shown some fantastic things this season and there was more of it again today.
"We can be greedy and say we could have won it, but they had a few big chances too and sometimes you have to call it as it is and overall I felt a point was fair."