The video shows the tracksuited escape artist climb out of a four-storey window before using ropes to shimmy down the block of flats in Samuel Street on the Callon estate.
Like a scene out of a really low-budget Spider-Man movie, he appears to use dog leads or belts tied together to lower himself halfway down before leaping from the second floor.
He hits the ground hard, landing next to one of the police cars, before hurling himself over a metal fence and continuing his getaway on foot.
Lancashire Police said the man is Jamie Carlisle and he is wanted in connection with threats to damage property in the city.
The force continues to search for the agile 30-year-old and is asking anyone with information on his whereabouts to get in touch.
A police spokesman said: “Officers attended an address off Samuel Street, Preston, yesterday (March 17) as part of our enquiries to trace wanted man Jamie Carlisle.
"Carlisle is wanted in connection with making threats to damage property following reports of a public order earlier this month.
“We are aware of a video circulating on social media showing a man climbing down from a fourth story window and jumping to the ground in order to evade police.
“We are continuing to actively search for Carlisle and we would urge anyone with information to contact us.
"Carlisle could be violent and we would advise the public not to approach him but instead call us with his location and a description of his clothing.
“Anyone with information is urged to call 101 or email [email protected] In an emergency use 999.”
You can watch the footage of his daring escape in our video player above.