TacOps were patrolling the roads in an unmarked car when they they were overtaken by a speeding driver on John Horrocks Way shortly after 2pm.
After hurtling past police at nearly 100mph, the driver then accelerated even further as the undercover cops gave chase.
The officers shared a picture of the pursuit and the speedometer which clocked the driver hitting the 'crazy speed' of 122mph on the 50mph road - more than 70 mph over the speed limit.
But the TacOps team swiftly caught up with the speedster and he was pulled over and reported for summons.
He will appear before Preston Magistrates' Court in due course, said police.
Lancs Road Police tweeted: "122mph in a 50mph limit is totally unacceptable.
"The driver of this vehicle in front overtook an unmarked police car and then accelerated to this crazy speed on John Horrocks Way.
"They were stopped and reported for summons for the offence."
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