Bournemouth might be the favourites to win the EFL Youth Alliance division, but a fast-improving young Argyle side restricted the Cherries to only a point for the second time this season.
The youngsters were on top for the opening 15 to 20 minutes of the first-half, but had to settle for a 0-0 scoreline at the interval.
With the game reaching its closing stages, the Cherries opened the scoring on 75 minutes, after a short corner routine was worked home at the far post.
Argyle were deservedly level five minutes later, as Bournemouth were caught out trying to play the ball out of defence. Substitute Oscar Massey's pressing off the ball forced them into a rushed back-pass that the visiting goalkeeper could only deflect on to his post, with Massey on hand to steer the ball home.
Argyle went for the victory and came close when a cross found Will Jenkins-Davies, but his header lacked sufficient power to find a way past the visiting 'keeper.
The young Pilgrims enter their Christmas break after a four-match unbeaten run, which will see them in good heart when they travel to Swindon Town on 9 January.
Argyle coach Jamie Lowry said: "This was one of our better performances of the season and we really deserved to have won the game.
"We were dominant in possession against a very strong Bournemouth side who are unbeaten this season."
Plymouth Argyle: Tyler Coombes, Oscar Rutherford (Jeffery Forkuo 65), Finley Craske, Ethan Mitchell, Brandon Pursall, Will Jenkins-Davies, Carlo Garside, Angel Waruih, Jeremiah Medine (Jamal Salawu 75), Rhys Shirley (Oscar Massey 55), Scott Crocker. Substitutes not used: Lewis Moyle, Ali Mansaray.