Charlie Adam's first-half winner sent over 5,000 Blackpool fans into ecstasy and put a huge dent in bitter rivals Preston's Coca-Cola Championship play-off bid.
The on-loan Rangers midfielder collected possession 22 yards from goal and was given the time and space to drill a low left-footed shot in off a post.
Adam, 23, joined the Seasiders in February on loan until the end of the season and will now go down in Blackpool folklore as the man who stopped Preston recording a famous league double.
Not since the 1960/61 season have North End beaten Blackpool home and away in league combat but their 3-1 success at Bloomfield Road in November had raised the prospect of repeating that feat.
But with Adam biting into tackles in the middle of the park - and earning a booking for his trouble - and a fine defensive display limiting Preston to half-chances, Blackpool fully merited all three points against their sworn enemies.
The result represented a large stride towards safety for the Seasiders but has done no favours for Preston, whose play-off hopes are fading fast.
Blackpool were vibrant throughout and on-loan Leicester striker DJ Campbell caused the Preston backline problems with his pace and clever movement.
In the third minute he engineered the space to drive in a right-foot shot which North End midfielder Chris Sedgwick blocked.
The pendulum swung in Preston's favour and visiting defender Shaun Barker threw himself in front of Jon Parkin's shot to make a crucial block.
Parkin then headed wide from the subsequent corner by Lee Williamson but moments later Preston carved out another opportunity when Ross Wallace's delightful cross found Stephen Elliott but he headed weakly wide.
Yet Blackpool always carried a goal threat and Ben Burgess' header was parried around a post by home goalkeeper Andy Lonergan in the 13th minute.
Four minutes later Wallace curled a brilliant free-kick against a post from 25 yards but Burgess had a shot shortly before the half-hour mark and Campbell's follow-up shot was blocked.
Adam struck in the 43rd minute to hand Blackpool the lead after Wallace had carelessly squandered possession.
Blackpool soaked up long periods of pressure as the game progressed and Adam almost doubled his tally in the 54th minute with a right-foot shot which deflected out for a corner.
Four minutes later he rifled a fierce free-kick narrowly wide of Lonergan's left-hand post and on the hour mark Blackpool midfielder David Vaughan shot wide from eight yards.
North End offered little and only when the ball crossed the line late on - only to be ruled out for an apparent infringement - did their supporters have cause to get excited.
Preston substitute Neil Mellor was lively when he came on but there was to be no equaliser as Blackpool held on for a thoroughly-deserved success.
Teams
Preston Lonergan, Jones, Mawene, St. Ledger, Nolan,Sedgwick (Whaley 63), McKenna, Williamson (Carter 87), Wallace,Parkin, Elliott (Mellor 64).
Subs Not Used: Neal, Chilvers.
Blackpool Rachubka, Baptiste (Walton 74), Edwards, Barker,Crainey, O'Donovan (Ormerod 64), Southern, Adam, Vaughan,Campbell (Jorgensen 88), Burgess.
Subs Not Used: Gilks, Hughes.
Booked: Adam.
Goals: Adam 43.
Att: 21,273
Ref: Andy D'Urso (Essex).