The 20-year-old was expected to leave Meadow Lane when his current contract expired in the summer, but the club have instead agreed an upfront deal with Billy Davies' side rather than risk an often unpredictable tribunal system.
The defender is an immediate replacement for former Preston defender Chris Lucketti, who moved to Sheffield United earlier this week.
"As soon as I heard about the opportunity there wasn't much making my mind up," Wilson told Preston's official website.
"It's a big club and it's where I want to be."
The move is sure to devastate the supporters of the Magpies who have seen a number of top homegrown youngsters leave at an early stage of their careers in the past few years.
Wilson made 88 first-team appearences for Notts since making his debut in April 2004. The defender's final appearence came in Saturday's 2-2 derby draw with Mansfield Town, where he received NCM's Man of the Match award.
There has not yet been any official comment from the club regarding Wilson's impending departure.
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