The hero was Mark Davies, who would not have been in the side had it not been for Stuart Holden's thigh injury, who fired home in the 89th minute to round off a glorious team move and snatch what seemed an unlikely result with 15 minutes remaining.
Substitute Martin Petrov had pulled one back for Wanderers in the 76th minute.
Blackpool looked set for a fourth victory in nine away matches after headers from Ian Evatt and Luke Varney as the Seasiders but the team with the worst defensive record in the Barclays Premier League could not hang on under intense late pressure.
Bolton, who remain in fifth place as a result, extended their unbeaten run to five matches but made hard work of it at times as they had plenty of chances to score both before and after the visitors went ahead.
Source: PA
Source: PA