In-form Shrewsbury took the lead through Colin Murdock before Scott McGleish fired the hosts level. But despite both sides' best efforts the points had to be shared.
Wycombe dominated a bright and open first half in which the Shrewsbury defence were error-prone.
Sergio Torres and Sam Stockley had already had decent chances before Jermaine Easter headed Scott McGleish's cross wide from six yards.
They continued to play slick football and Easter was gifted a glorious opportunity on 21 minutes when Kelvin Langmead horribly misjudged a long ball but the Welshman poked wide from close range.
It was Shrewsbury that took the lead though with their first real effort on goal after 27 minutes when a superb free-kick from David Hunt was glanced in by Colin Murdock.
Wanderers came straight back at them, Gary Holt firing wide before they got the equaliser on 37 minutes, McGleish heading home Russell Martin's precise cross from close range.
Shrewsbury started the second half with more purpose and almost took the lead immediately from Marc Pugh's free-kick that was well saved by Jamie Young.
Wycombe thought they'd taken the lead on 54 minutes though when Easter tapped in, but the striker had just drifted offside and they goal was ruled out.
Both teams fought hard for the winner but cancelled each other out as the chances dried up.
Wycombe finally carved out one on 70 minutes though, but McGleish's snap-shot from a tight angle was kicked out by Glyn Garner.
McGleish then had another decent opportunity five minutes later when the ball fell to him kindly on the edge of the box but he thrashed his shot over.
Both teams fought hard late on for the winner but neither side could muster a decent chance.