Victory were already locked into fifth place and a trip to Western Sydney for next Saturday night's elimination final at CommBank Stadium against the fourth-placed Wanderers.
Defender Kasey Bos was almost the matchwinner for Victory for a second time in two weeks, following up his decisive goal against Macarthur with a lovely finish in the 47th minute at AAMI Park..
But Newcastle's Clayton Taylor scored after a horror error from goalkeeper Jack Duncan in the 83rd minute to snatch a point.
It was the ninth-placed Jets' final match under manager Rob Stanton, with Socceroos great Mark Milligan expected to take over after this season.
The dangerous Zinedine Machach dragged a shot wide in the fifth minute while Nishan Velupillay came close with a volley in the 22nd.
Machach slipped through Nikos Vergos in the 23rd minute and the striker neatly dinked the ball over Ryan Scott - but was called offside.Â
Victory unsuccessfully appealed for a handball by Jets striker Lachie Rose on the half-hour mark.
Daniel Arzani won a penalty in the 42nd minute after Daniel Wilmering was ruled to have clipped him, but after a VAR review, it was overturned.
Victory took the lead when Machach curled a wonderful ball into the path of Bos, who burst forward then coolly finished across his body.
Substitute Santos thought he'd doubled Victory's lead in the 71st minute but was offside, then skimmed a shot over the bar three minutes later.
Newcastle hit back out when Duncan, deputising for Mitch Langerak (foot), attempted to pass to Ryan Teague but Ben Gibson nipped in and got a foot to it.
The hospital pass allowed Lachlan Bayliss to contest the ball which squeezed out to Gibson, who found Taylor, and the talented Jet took a touch then beat Duncan at his near post.
Duncan then made a super double save, denying Gibson, then Taylor, to stop Newcastle taking the lead.
14°C