The near miss was caught on camera when the driver was travelling along Longsands Lane towards the Fulwood Row roundabout at 4.20pm yesterday (June 17).
Dash-cam footage shows the galloping deer burst into the road from a row of trees as the quick-thinking driver slams on his brakes.
"I just spotted something out of the corner of my eye rushing towards the road, so I automatically slammed on my brakes", said the driver.
"I didn't even have time to think about it, it all happened so fast.
"I didn't even realise what it was at first. If you'd have blinked, you'd have missed it.
"I don't know whether they're becoming more confident because traffic is quieter with lockdown, but I've never seen one around there before, especially at that time of day, and I've been driving down that road daily for over 20 years.
"It was one of those heart-stopping moments which takes your breath away.
"If it had been half-a-second slower it would have hit the car."
It is likely that the deer had ventured from Savick Brook, where a number of them have been spotted recently, and had possibly been heading towards Hills And Hollows Nature Reserve on the other side of Fulwood Row.
There appears to have been an increase in deer sighting across Preston in recent months.
In May, a deer with a broken leg stumbled into the road and brought traffic to a stop in Tom Benson Way, near Savick Brook in Ingol.
You can see pictures of the close encounter in the story below.