Everton and Liverpool shook off their Christmas hangovers to serve up a cracker of a match at Goodison Park that earned both sides a standing ovation at the final whistle.
Defender Nick Tanner gave Liverpool the lead against the run of play after 41 minutes, Michael Thomas helping on a Dean Saunders corner for Tanner to force the ball over the line despite Mark Ward's desperate bid to block.
Everton struck back through Mo Johnston, whose shot after 61 minutes crept inside the post after Matthew Jackson scooped on Peter Beardsley's knock down from a Robert Warzycha cross.
They set up a thrilling last half hour with goalmouth action at both ends and the Merseyside crowd whipped up into a frenzy.
Johnston hit a post and Liverpool had another escape when Martin Keown headed Ward's free-kick towards goal, Ray Houghton springing up like a jack-in-the-box to head clear over his cross bar.
Liverpool could have won it when Saunders beat a hesitant Dave Watson to the ball, only to see Neville Southall race out to block his close range effort.
Everton had made most of the first half running but once again failed to find the killer touch - or the luck - their bright, inventive approach play deserved.
Ward saw a thunderous volley rebound to safety off Liverpool skipper Mark Wright, who was to go off injured at half time, and Warzycha's curling shot bounced off Steve Nicol's head.
Peter Beagrie flashed a shot just over from Warzycha's low cross and Beardsley's clever back-heel gave Johnston space for a shot which flew straight at Bruce Grobbelaar.
The Liverpool goalkeeper had a let off when he cleared poorly straight to Johnston, who swiftly threaded the ball through to the unmarked Warzycha. The pole rounded the keeper but saw his cross hammered to safety by Wright.
Everton manager Howard Kendall saluted his Merseyside derby goal hero Johnston with the verdict: "It was a dream for Mo Jo."
Kendall enthused: "To score in front of our supporters and hit a post was great for him. Like all the players out there he had a good first touch, it was a good advert for the game and one of our best performances of the season. Now we must look forward to 1992 and hope it is kinder to us."
Johnston, a regular scorer in Old Firm matches for both Celtic and Rangers before his 1.5 million pound move to Everton last month, said: "Down here you are allowed to play a bit more football. In Scotland it's 200 miles an hour and very frantic and intense. It was important to score in my first derby match. I feel I am starting to adapt to the quality of Everton's play and I've struck up a fair partnership with Peter Beardsley."
Liverpool manager Graeme Souness said: "I thought we were better in the first half and they were better in the second. I thought it was a really good game and a great advert for the British game."
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