Adam Lockwood headed Latics ahead but was later dismissed as the club finish the season unbeaten in ten games.
It was an indifferent afternoon for the central defender who gave Latics the lead before Alan Sheehan's penalty got County back level.
Lockwood and Tommy Wright were dismissed for Latics but both sides finished the day in celebratory mood.
The atmosphere inside Boundary Park was electric pre-match and Latics started the game on the front foot.
Gary Harkins shaped to shoot in the opening five minutes but the wingers effort was parried away from goal by goalkeeper Bartosz Bialkowski.
Five minutes later, central defender Adam Lockwood should have put Latics ahead. Harkins delivered a pin-point cross onto the head of the defender but he missed the target.
The home side kept on the pressure and James Wilson was the next player to go close. The defender drove through the Notts County rearguard but his shot was tame and the goalkeeper saved comfortably.
Midway through the half, Lockwood made a last ditch tackle to deny Jimmy Spencer a clear sight of goal.
The Magpies kept the pressure on and forced a succession of corners which Latics dealt with well.
With only five minutes of the first half remaining, Jonson Clarke-Harris forced Bialkowski into a smart save low down as he raced through on goal.
Notts County started the second half the brighter of the two sides. Ronan Murray should have put the Magpies ahead two minutes into the half but Paul Rachubka saved well.
As the game started to go flat, Latics took the lead with just over 20 minutes of the game remaining through Lockwood. The defender rose highest from a Harkins free kick and nodded the ball past the goalkeeper.
The lead however did not last long as Notts County won a penalty on 71 minutes. Jonathan Grounds was adjudged to have handled in the area and Sheehan stepped up and fired past Rachubka as they levelled the encounter.
With both fans trying to lift their players, goalscorer Lockwood brought down a Magpies striker on the edge of the area and received his second yellow card of the game.
As tempers started to rise, assistant manager Tommy Wright was dismissed from the technical area with under ten minutes of the game remaining.
Notts County made use of the one-man advantage and went in search of a winning goal which would seal their League One status.
Rachubka superbly denied substitute Callum McGregor and Murray in the final couple of minutes of the game.
The referee blew the full time whistle, drawing the curtain down on another season to the delight of both sets of supporters.
Oldham Athletic: Rachubka, Brown, Lockwood, Wilson, Grounds, Worrall (Dayton 69'), Smith, Wesolowski, Harkins, Philliskirk (Byrom 69'), Clarke-Harris (MacDonald 79').
Subs not used: Coleman, Winchester, Kissock, Millar.
Notts County: Bialkowski, Dumbuya (McGregor 72'), Sheehan, Liddle, Grealish, Spencer, Murray, Campbell-Ryce, Thompson, Vela, Hollis.
Subs not used: Waite, Spiess, Boucard, Roberts, Dixon, Tyson.
Goals: Oldham Athletic (Lockwood 68') 1-1 Notts County (Sheehan 74')
Attendance: 7,698 (3,361 visiting supporters)