Wanderers took the lead after the break when substitute Bruno N'Gotty blasted in from six yards.
But Sevilla drew level when Adriano raced through and coolly finished past goakeeper Ian Walker.
Luis Fabiano saw a stunning half-volley rebound off the post for the visitors while El-Hadji Diouf and Radhi Jaidi both went close for Bolton.
The Spaniards looked neat and tidy from the start but Bolton, playing Diouf, Kevin Davies and Hidetoshi Nakata in a three-pronged attack, had their chances in a lively opening spell.
Diouf jinked past two men and blazed a shot over the bar, Jay-Jay Okocha created space for himself on the edge of the box and had a clever shot deflected over and a couple of Bolton set-pieces caused confusion in the Sevilla penalty area.
But the visitors, boasting the best defensive record in La Liga, began to settle and created the most clearcut opportunity of the half just before the half-hour mark.
The impressive Fabiano cut in from the right flank, lifted the ball over Tal Ben Haim and crashed a superb right-foot half-volley across Walker and against the post.
A dull second half finally got some action 20 minutes after the break when substitute N'Gotty reacted quickly to Khalilou Fadiga's inswinging corner and lashed the ball home from six yards.
Sevilla, already assured of their place in the knockout stage, were on level terms within 10 minutes when substitute Adriano got on the end of a pacy attack and finished neatly across Walker.
Adriano then saw another effort go wide after a mistake by Nicky Hunt, and Bolton could have won it when Ricardo Vaz Te exchanged passes with Nakata but was thwarted by keeper Antonio Notario.
Bolton boss Sam Allardyce:"I'm pleased with the lads even though they didn't play how they would like.
"This is valuable football at a high level to stand us in good stead over Christmas and the New Year period.
"However, the celebrations cannot go on too long for us because we have got Everton at the weekend."
Bolton: Walker, Hunt, Ben Haim, Jaidi, Gardner (N'Gotty 45), Faye (Speed 55), Diouf, Nakata, Okocha, Fadiga, Davies (Vaz Te 65).
Subs Not Used: Jaaskelainen, Nolan, Borgetti, Giannakopoulos.
Booked: Nakata.
Goals: N'Gotty 65.
Sevilla: Notario, Crespo, David Prieto, Pablo Alfaro, Dragutinovic, Jordi (Adriano Correia 67), Pablo (Aitor Ocio 58), Marti, Puerta, Kepa (Saviola 73), Luis Fabiano.
Subs Not Used: Palop, Kanoute, Navas, Diego Capel.
Booked: Puerta.
Goals: Adriano Correia 74.
Att: 15,623
Ref: Michael Weiner (Germany).
