In the pouring rain in Ballybofey, Niamh Ni Chonchuir registered an early point for Munster champions Kerry before Donegal responded with a goal on three minutes.
Niamh McLaughlin fed Nic Eoghain, whose looping shot from a tight angle nestled into the top corner.
Kerry got back on level terms with points from play from Anna Glavin and Danielle O’Leary before Siobhan de Faoite forced Clara Butler into a save.
Cait Ni Dhuda replied for Donegal in this back-and-forth contest, converting from close range when she could have gone for goal.
Three consecutive points from O’Leary, Lorraine Scanlon and Niamh Carmody edged Kerry, who were beaten finalists in last year’s All-Ireland final, back ahead in a frantic opening 15 minutes to the game.
A free from de Faoite got Donegal back to within a point, but after a lull in the game, they were made to wait until the stroke of half-time to score again with McLaughlin pointing to send the two sides in level at the break.
Kerry started the second half the better of the two sides, regaining a two-point advantage with scores from Carmody and Galvin, with O’Leary also going close to a goal with her strike from a tight angle drifting just wide.
De Faoite kept Donegal in the game with another free before Emma Dineen re-established Kerry’s lead.
Donegal then mounted a late fightback with points from Ni Dhuda and de Faoite in the closing stages of the game rescuing a draw for Maxi Curran’s side.