After successive defeats to heavyweights Geelong and Collingwood, the Blues kicked the first six goals on Thursday night to lay the platform for their 12.5 (77) to 11.10 (76) victory at the MCG.
They led by 37 points multiple times during the third term and 28 early in the final stanza, but the Demons rallied and kicked the last four goals of the game.
Max Gawn's long set shot got Melbourne back within one point with 40 seconds left but the Blues' defence held firm as Patrick Cripps and Nic Newman pinned Petracca holding the ball in the dying stages.
It was yet another thrilling finish between the two sides, with six of the last eight meetings decided by single-figure margins.
Matthew Owies (right) booted three majors in Carlton's stirring victory over Melbourne. (Joel Carrett/AAP PHOTOS)
The result gave Michael Voss' side a 6-3 record - level with the beaten Dees - ahead of next week's interstate trip to face ladder leaders Sydney.
But it came at a cost as unlucky midfielder Adam Cerra was substituted out of the game with another hamstring injury.
Sam Walsh (35 disposals, six clearances) and Cripps (34, five) fired in the Carlton engine room, while Jacob Weitering was a rock in defence.
Matthew Owies finished with three majors and Charlie Curnow two as the Blues spread the load, with Walsh and Cripps also among their nine goal-kickers.
Melbourne were held scoreless in a first quarter for the first time since 2008, and first time against Carlton since 1942.
Petracca was swung forward at quarter time and threatened to drag the Demons over the line, while Jack Viney (21 touches), Alex Neal-Bullen (23), Clayton Oliver (26) and captain Gawn (17 disposals, 45 hitouts) were also important.
Walsh's hard running and a spring-heeled Jack Martin leap over Jake Lever were highlights as Carlton slammed on five straight goals without reply in a dominant first quarter.
The Blues' advantage grew to 36 points before Melbourne eventually mustered a response at the 10-minute mark of the second quarter through Petracca.
Christian Petracca kicks one of his five goals in the loss to the Blues. (Joel Carrett/AAP PHOTOS)
The versatile bull kicked 2.1 in a four-minute burst, breathing life into the contest, but it was the Blues in front by 31 points at halftime.
Lachie Cowan and Newman both gave away down-field free kicks for late hits on Neal-Bullen, resulting in shots at goal either side of the main break.
The incidents left the Blues duo facing scrutiny from the league's match review officer.
Another two Petracca goals in the third term cut the deficit to 22 points at the final change, giving Melbourne a sniff of a comeback.
Blues substitute George Hewett's goal at the start of the last quarter looked to have finished the contest but Melbourne never gave up.
Viney's desperate lunge to keep the ball in play typified their late fight, teeing up a goal for Caleb Windsor, but Carlton hung on in a tense finish.
