At the end of one of the most exciting Edinburgh derby's in years, featuring yet another wonder goal from Derek Riordan, Hearts are virtually out of the running for a European place next season. Andrew Webster's late equaliser, however, not only denied Hibs victory, but keeps Aberdeen dangerously close with four games to play.
Riordan signalled his intent within the opening 60 seconds by taking charge of a short free-kick and firing in a typicaly audacious right footer which flashed wide.
Paul Hartley mis-cued a half chance as Hearts fought to settle into the game, but otherwise it was all Hibs with Dean Shiels failing to control his header after being picked out by Garry O'Connor.
It didn't matter, though, as the home side went in front two minutes later as Riordan's half-cleared corner was played back in by Scott Brown and tapped home from close range by O'Connor.
The visitors responded with a terrific free-kick from Hartley, which by-passed the Hbs defence and found Lee Miller and Mark Burchill at the back-post, where Burchill's header rattled the woodwork.
The same two players combined brilliantly to pull Hearts level midway through the first half as Burchill continued a fine passing move by chipping the ball into the path of Miller, who somehow found the roof of the net from a tricky angle.
It almost got even better for Hearts three minutes later when only a reflex stop from Simon Brown kept out Steven Pressley's powerful header.
Just as Hearts seemed to be in control, Hibs finished the first half with a bang as Riordan' s teasing cross led to a corner from which he picked out Caldwell only for Craig Gordon and his defence to scramble the ball away.
Gordon made another top-class save to deny Amadou Konte early in the second period, and even when the big striker managed to beat him with a header a few moments later, the offside flag was already up. Shiels had no excuse in the 55th minute when he stabbed Riordan's pin-point cross wide from six yards.
Hartley's placed shot then brought a decent save from Brown, but the next attempt on goal was in a different class as Riordan skinned Robbie Neilson on the outside before beating Gordon with a stunning left-foot drive which ended up in the top corner of the net.
Gordon held on to another Riordan thunderbolt as Hibs threatened to grab a killer third goal, but Hearts were rewarded for their persistence three minutes from time when Hartley's free-kick was deflected in by Webster.