The 49-year-old led the Bantams to the League Cup final and promotion to League One during a near five-year spell in charge which ended last June.
But he was enduring a miserable afternoon when his rattled side conceded two goals to Charlie Wyke inside the first 16 minutes.
Wyke profited from two errors from Bolton goalkeeper Ben Alnwick to take his tally to three goals in four games since signing from Carlisle.
Alnwick then failed to keep out Wyke's low left-footed effort and, having raced to the edge of his area, was lobbed by Nicky Law to allow the prolific striker a simple tap-in.
Madine missed two chances to halve the deficit - but he and David Wheater both netted in the second half to earn the automatic promotion hopefuls a precious point.
After Wheater lashed home in the 62nd minute following poor defending, former Sheffield Wednesday striker Madine silenced the hostile crowd by heading home 12 minutes later.
Bradford, who stay fifth, six points behind third-placed Bradford, almost won it late on, only for substitute Timothee Dieng's shot to cannon back off a post.
Report supplied by the Press Association.
Match ends, Bradford City 2, Bolton Wanderers 2.
Second Half ends, Bradford City 2, Bolton Wanderers 2.
Foul by Timothee Dieng (Bradford City).
Tom Thorpe (Bolton Wanderers) wins a free kick in the defensive half.
Attempt saved. Conor Wilkinson (Bolton Wanderers) left footed shot from outside the box is saved in the centre of the goal.
Attempt saved. Gary Madine (Bolton Wanderers) header from the centre of the box is saved in the centre of the goal.
Tom Thorpe (Bolton Wanderers) is shown the yellow card for a bad foul.
Romain Vincelot (Bradford City) wins a free kick in the defensive half.
Foul by Tom Thorpe (Bolton Wanderers).
Conor Wilkinson (Bolton Wanderers) is shown the yellow card.
Tony McMahon (Bradford City) wins a free kick in the attacking half.
Foul by Conor Wilkinson (Bolton Wanderers).
Substitution, Bolton Wanderers. Conor Wilkinson replaces Adam Le Fondre.
Attempt missed. Charlie Wyke (Bradford City) right footed shot from the centre of the box is just a bit too high.
Corner,  Bradford City. Conceded by Mark Beevers.
Corner,  Bradford City. Conceded by James Henry.
Attempt saved. Viv Solomon-Otabor (Bolton Wanderers) right footed shot from outside the box is saved in the centre of the goal.
Foul by Tony McMahon (Bradford City).
Gary Madine (Bolton Wanderers) wins a free kick in the defensive half.
Substitution, Bradford City. Jordy Hiwula-Mayifuila replaces Mark Marshall.
Corner,  Bolton Wanderers. Conceded by Romain Vincelot.
James Meredith (Bradford City) wins a free kick on the right wing.
Foul by Tom Thorpe (Bolton Wanderers).
Foul by Josh Cullen (Bradford City).
Derik (Bolton Wanderers) wins a free kick in the defensive half.
Substitution, Bradford City. Alex Gilliead replaces Nicky Law.
Timothee Dieng (Bradford City) hits the right post with a left footed shot from the centre of the box.
Foul by Charlie Wyke (Bradford City).
Derik (Bolton Wanderers) wins a free kick in the attacking half.
Corner,  Bradford City. Conceded by Mark Beevers.
Romain Vincelot (Bradford City) wins a free kick in the defensive half.
Foul by Adam Le Fondre (Bolton Wanderers).
Foul by Josh Cullen (Bradford City).
Goal!  Bradford City 2, Bolton Wanderers 2. Gary Madine (Bolton Wanderers) header from the centre of the box to the bottom right corner. Assisted by James Henry with a cross following a set piece situation.
Derik (Bolton Wanderers) wins a free kick on the right wing.
Attempt missed. Tony McMahon (Bradford City) right footed shot from outside the box is close, but misses to the left.
Substitution, Bradford City. Timothee Dieng replaces Billy Clarke.
Attempt missed. Mark Marshall (Bradford City) right footed shot from outside the box is too high.
Josh Cullen (Bradford City) is shown the yellow card for a bad foul.
Foul by Josh Cullen (Bradford City).
Gary Madine netted a 74th-minute equaliser to earn Bolton an unlikely draw and prevent former Bradford City boss Phil Parkinson from tasting defeat on his return to Valley Parade.