The Pilgrims fell behind midway through the first half when Sean St Ledger headed home but fought back strongly for a point with Northern Ireland international midfielder Damien Johnson levelling from the penalty sport after Matt James had handled.
Argyle goalkeeper David Stockdale had already come to the Pilgrims' rescue in the first half, saving at the feet of midfielder James, before Preston's early pressure told with a simple goal.
St Ledger had no problems rising unimpeded above the defence to head home Ross Wallace's right-wing corner midway through the first half.
Centre-back St Ledger came close to adding a second soon afterwards, when Stockdale beat out a fierce free-kick from Wallace, but the Lilywhites' skipper could not direct his first-time shot on target and the ball trickled wide of the goalpost.
The home side were struggling to get into the game, but found their rhythm leading up to half-time and were unlucky not to go in on level terms after teenage forward Joe Mason hit the target with a tremendous header from Chris Clark's cross only for goalkeeper Andy Lonergan to spectacularly tip the ball over the crossbar.
Manager Paul Mariner sent on winger Craig Noone for the second half, and his early corner was headed wide by Carl Fletcher, before another Clark-Mason combination forced Longergan into action.
The momentum stayed with the home side, although Preston's disciplined defending prevented Plymouth from getting too many clear sights of goal.
They finally got their break midway through the second half when Fletcher's goal-bound header from another Noone corner was handled by James, allowing Johnson to equalise from the penalty spot.
Argyle so nearly got the win they craved in the final minutes.
Noone's 30-yard shot shot hit the underside of the crossbar and came out to Rory Fallon, but the New Zealanders header was brilliantly saved by Lonergan.