Armand Gnanduillet scored a dramatic stoppage-time winner to give Blackpool the bragging rights in the Fylde coast derby.
Despite a dominant second-half display from Blackpool, the Cod Army appeared to be heading for their first ever league win against the Seasiders when Wes Burns broke the deadlock with just 15 minutes left to play.
Not only was Burns’ effort Fleetwood’s first league goal against Blackpool, it was the first to be scored in over five-and-a-half hours’ worth of action between the two sides.
But Blackpool struck level with just two minutes to go as Viv Solomon-Otabor smashed home into the roof of the net from close range.
But the drama didn’t stop there, as Gnanduillet won it for Blackpool in the fourth and final minute of stoppage time with a well-taken header, handing the Seasiders their third straight win.
Thanks to ticket giveaways, the game was played in front a bumper crowd at Bloomfield Road of over 7,30 - with 1,300 of those representing Fleetwood.
The win takes Blackpool up to 10th in the League One table, while Fleetwood slip down one place to 12th.
Blackpool, buoyed by their back-to-back home wins, started the game on the front foot as they looked to take the game to their neighbours.
But the first shot on target came from Fleetwood, who brought out a smart save from Joe Lumley who did well to hold onto Conor McAleny’s low effort.
The Seasiders fired back with a chance of their own through Kyle Vassell, but the striker couldn’t get the required contact on his shot after being found at the near post by Ollie Turton.
Fleetwood settled into a steady rhythm and began to cause Blackpool some problems, Curtis Tilt making a vital interception to clear the ball ahead of the lurking Paddy Madden.
Blackpool came inches away from breaking the deadlock on 25 minutes when Jay Spearing crashed a shot against the foot of the post from 25, maybe even 30 yards, with Alex Cairns well beaten.
Former Fleetwood man Jimmy Ryan curled in a teasing free kick that was just begging for someone to get a touch on it, but unfortunately for Pool his delivery evaded everyone and flew out for a goal kick.
The Seasiders looked the more likely to make something happen before the half-time interval but they were unable to break Fleetwood’s tough resistance.
Pool finished the half with Sean Longstaff drilling a low effort straight at Cairns.
The Seasiders once again came out on the front foot at the start of the second half, as Nathan Delfouneso got a shot off at goal that just evaded the crossbar.
Pool’s bright start continued and they should have taken the lead just three minutes into the second period.
Viv Solomon-Otabor raced through on goal but, with only Cairns to beat, the winger opted to cut back before laying the ball off to Longstaff who shot straight at the Fleetwood keeper.
Another chance came and went for Blackpool and again, Solomon-Otabor was involved. Delfouneso lobbed a ball towards the winger at the back post where he looked certain to score had he just headed towards goal. But instead he opted to go with his feet but failed to make any contact.
Blackpool thought they had a good shout for a penalty when Ollie Turton went down in the box but referee Andy Woolmer waved away the appeals.
Jimmy Ryan tried to catch Cairns out with a free kick from distance. The keeper eventually scrambled to palm the ball away into the path of Kyle Vassell, but a Fleetwood defender managed to turn the ball away in the knick of time.
Fleetwood then immediately raced up the other end of the pitch where substitute Wes Burns rounded Joe Lumley, but Delfouneso did well to recover and deflect his attempted cross out for a corner.
Fleetwood grew back into the game as the second half wore on, as Ash Hunter tested Lumley with an ambitious long-range volley that needed the Blackpool keeper to get across his goal to tip it out for a corner.
With 15 minutes to go, Fleetwood broke the deadlock to record their first ever league goal against the Seasiders.
It came after Colin Daniel missed a routine header from a long ball, that allowed Jordy Hiwula to race through on goal. There, he rounded Lumley before striking the foot of the post - but the ball rebounded to Wes Burns who found the back of the net with a deflected effort.
Burns then should have made it 2-0 a minute later when he raced through on goal only to chip his effort over Lumley and wide of goal.
With just two minutes of the game left to play, the Seasiders found that all-important equaliser as Solomon-Otabor smashed into the roof of the net from close range.
Blackpool then had a chance to win it in the final minute as Jimmy Ryan lined up a free kick right on the edge of the box - but the Fleetwood job did its job and blocked his effort.
The game ended in the most dramatic of circumstances as Gnanduillet won it for the Seasiders with a downward header at the back after latching onto Dolly Menga’s teasing ball.
Blackpool: Lumley, Turton, Tilt, Robertson, Daniel, Ryan, Spearing, Longstaff (Cullen), Solomon-Otabor, Delfouneso (Menga), Vassell (Gnanduillet)
Subs not used: Mafoumbi, Aimson, Cooke, Agyei
Fleetwood: Cairns, Coyle, Pond, Eastham, Jones, Sowerby (Burns), Dempsey, Diagouraga, Hunter, Madden (Hiwula), McAleny (Grant)
Subs not used: Neal, Sheron, Biggins, Glendon
Referee: Andy Woolmer
Attendance: 7,371 (1,381 Fleetwood)