The Hornets were the better of the two sides in the first half and came close on a couple of occasions, namely when Odion Ighalo missed a pointblank header and Etienne Capoue saw his well-struck effort saved by Thibaut Courtois.
The second lot of 45 minutes saw Chelsea produce some gilt-edged opportunities but Man of the Match Heurelho Gomes was at his best to deny Oscar, Branislav Ivanovic and Diego Costa in the final 20 minutes to keep his side alive.
In the end, however, neither attack could break down the opposing defence as Guus Hiddink's men settled for a point on the road while Quique Sanchez Flores' Hornets made it two draws for the season against the reigning Premier League champions.
Coincidentally, it was Hiddink's former keeper at PSV Eindhoven who denied the Dutch tactician a fifty win in all competitions since taking the reins at Stamford Bridge.
Watford moved into ninth on the table having racked up 33 points on their top flight return as Chelsea remained 13th despite extending their unbeaten run to eight matches in the league, seven of which have come under the guidance of Hiddink.
2015/16 BARCLAYS PREMIER LEAGUE - SEASON SCORES