Wanderers produced a stunning fightback to make a dramatic start to their defence of the Lancashire FA Professional Youth Cup.
The young Whites were 3-0 down after half an hour at Brockhall as they looked to be heading out of the competition.
But a Latrell Lewis double before the break rocked Rovers and revived Wanderers’ hopes.
And Julian Darby’s side then equalised through Sam O’Neill to set up a penalty shoot-out and a 4-2 triumph on spot kicks as Luke Lomas twice saved and Sam Hopkinson, Fahuz Amusat, Denver Clement and Correy Nuttall all converted.
Wanderers will now face Burnley in the semi-finals after knocking out Rovers - a Category One side which plays in the U18 Premier League - for the second year in a row.
That looked a long shot when the home side struck seemingly grabbed control of the tie in the opening half-hour.
But a fine strike from the edge of the box from Lewis six minutes before half-time gave the holders hope and three minutes later the powerful striker - just back from injury - struck another cracker from long range to make it 3-2.
Wanderers now had the momentum and with 15 minutes to go they were level as O'Neill claimed the final touch to Jack Mawditt's dangerous near-post cross.
The Whites were forced into a final substitution and forced to play back-up keeper James Shillinglaw as an emergency striker as they tried to find a late winner.
But it was regular number-one Lomax who was to prove the hero of the shoot-out as the tie went to penalties and Wanderers completed their remarkable fightback to keep fighting in another cup after also reaching round three of the FA Youth Cup for the first time in six years.
Wanderers: Lomax, Thomas (Kendrick 26), Taylor (Healy 62), Sixsmith (Kirk 48), O'Neill, Evans, Mawditt, Best (Clement 22), Lewis (Shilllinglaw 82), Hopkinson, Nuttall.
Pictures: Ben Livingstone