Emil Riis scrambled the Lilywhites in front after just three minutes, but Mark Harris grabbed his fourth goal in four league games when he headed in as the clock hit 20 minutes.
Tyler Goodrham struck a sensational effort in from distance to put the U’s in front nine minutes into the second half, before North End were reduced to 10 men with 70 minutes on the clock when Liam Lindsay was shown his second yellow card of the game.
From the deep free kick conceded by Lindsay, United grabbed their third goal of the afternoon, as Greg Leigh poked in from close range, in the process wrapping up a first three points for the U’s against North End since 1984, although admittedly only two games had been played since then, in the 1999/2000 season.
Des Buckingham made six changes to the side which was knocked out of the Carabao Cup at Coventry City, with defensive trio Ciaron Brown, Peter Kioso and Sam Long, plus midfield duo Cameron Brannagan and Josh McEachran those retaining their place in the starting line-up.
New signing Siriki Dembele was named on the bench, while deadline day recruit Ben Nelson wasn’t signed in time to be registered for the game.
The Lilywhites started the brighter, displaying an element of ‘new manager bounce’, with Paul Heckingbottom enjoying his third game in charge, after starting his reign with two wins.
Sam Greenwood darted into space and blasted over from 25 yards, before North End took an early lead.
A scramble at the back saw the ball fall to Riis, who was left with the simple challenge of stabbing home from close range.
Riis then shot from just outside the penalty box, with the effort taking a deflection, forcing Jamie Cumming into making a brilliant fingertip save to push the ball over his crossbar.
Will Keane directed a left-footed effort comfortably wide from 20 yards, as the Lilywhites continued to have too many shooting opportunities presented to them.
The game turned on its head though after 20 minutes, when a fabulous floated delivery from McEachran was headed past Freddie Woodman by Harris.
Matt Phillips was forced off after 34 minutes, allowing Dembele to come on for his United debut. Dembele moved to the left, with Goodrham switching to the right.
The U’s went close with a couple of corners in succession, as Long backheeled off target from a scramble, before Kioso headed wide at the near post from McEachran’s outswinger.
There was more injury woe for United before the first half reached its conclusion, as Joe Bennett was forced off, with Leigh coming on his place.
The half ended with Brown stretching out a leg and poking over from a wonderful left wing free kick from McEachran.
North End started the second period like they did the first half, with Kaine Kesler-Hayden forcing Cumming into a near post save four minutes after the restart.
Goodrham though nudged the U’s in front with a quite simply outrageous strike.
The 21-year-old took down a long crossfield ball from Brannagan, and cut inside from the right wing onto his supposedly weaker left foot.
The odds looked against him finding the far corner from his position 30 yards, but Goodrham caught the ball so sweetly, as it curved inside Woodman’s post, leaving the goalkeeper with no chance at all.
It was a truly special strike from a special young player, and the latest in a catalogue of wonderful goals already in his career.
With 20 minutes to go, North End centre back Lindsay was shown his second yellow card of the afternoon, and from the resulting free kick, Brown headed back across goal for Leigh to poke in from close range.
Oxford United (4-3-3): Cumming; Kioso, Long, Brown, Bennett (Leigh 45+1); Rodrigues (El Mizouni 76), McEachran (Vaulks 76), Brannagan; Phillips (Dembele 34), Harris, Goodrham.
Unused subs: Ingram, Sibley, Dale, Ebiowei, Scarlett.
Booked: Rodrigues, Kioso.
Sent off: None.
Preston North End (3-1-4-2): Woodman; Storey, Lindsay, Hughes; Whiteman; Potts, Greenwood (Holmes 72), Thordarson (McCann 72), Kesler-Hayden (Brady 58); Riis (Osmajic 72), Keane (Okkels 81).
Unused subs: Cornell, Whatmough, Frokjaer-Jensen, Ledson.
Booked: Greenwood, Lindsay, Brady, McCann.
Sent off: Lindsay.
Referee: Keith Stroud (Hampshire)
Attendance: 11,403 (TBC visitors)