Leeds' Rob Hulse came closest to breaking the deadlock when his shot rattled the woodwork after 25 minutes.
The visitors brought on David Healy in the second half and the livewire Northern Ireland striker had a header saved and then sent a shot wide.
With the clock ticking down, Ashley Young was denied by Leeds keeper Neil Sullivan as Watford remained a point ahead of their rivals in fifth.
Watford boss Adrian Boothroyd
"We went out to win the game and I think Leeds are the happier team going away with the point.
"I'm certainly a bit disappointed we didn't win, but all in all we are picking up points with key players out and we've got to be pleased with that.
"We have got a lot of quicker players, so tactically they had to defend deep because if they had played any higher we would have got in behind them."
Watford: Foster, Chambers, Mackay, Doyley, Stewart, Devlin, Spring, Mahon, McNamee (Grant 72), Young, Agbonlahor (Francis 65).
Subs Not Used: Chamberlain, Fletcher, Benjamin.
Leeds: Sullivan, Kelly, Butler, Gregan, Kilgallon, Douglas, Richardson, Derry, Lewis (Pugh 66), Hulse (Moore 90), Blake (Healy 54).
Subs Not Used: Bennett, Einarsson.
Ref: B Curson (Leicestershire).