The Everton winger was first booked for simulation bfore he dived in late on Aaron Cresswell before half time.
Despite having a man advantage, West Ham seemingly were set to continue their 15-game winless run against Everton as Aaron Lennon netted a second against the run of play after the break.
Lukaku's missed penalty after Mohamed Besic was tripped by substitute Alex Song then led to West Ham's ultimate recovery.
GETTY
Michail Antonio netted the Hammers' first goal on their road to reovery at Everton
Michail Antonio pulled one back with his first Hammers goal away from Upton Park as he headed in a Mark Noble cross with 12 minutes to go.
Substitute Diafra Sakho then appeared to have snatched a point as he matched Antonio's header with his own from a Dimitri Payet cross.
But then, in the 90th minute, with the game going from end to end as both sides looked to take all three points, a long ball in to Andy Carroll was knocked down neatly for Sakho.
The returning striker following long-term injury expertly flicked in towards the path of talisman Payet and he beat Joel Robles to the ball to poke home.
Bilic's side jump one space to fifth, just a point behind fourth-placed Manchester City, while Everton's incredible defeat keeps them in the bottom half and mounts more pressure on underperforming boss Roberto Martinez.
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