A forgetable first half saw neither side look like breaking the deadlock.
Ryan McGuffie sent over a low cross from the right side of the penalty area in the second minute which home keeper Paul Mathers did well to smother.
By contrast the second half was an exciting affair which came to life in the first minute.
Robert Raeside was harshly penalised for a challenge on Bryan Gilfillan and Mark Birch scored from the penalty spot.
Peterhead levelled after 62 minutes when man of the match Martin Bavidge controlled Jamie Buchan's cross on his chest before shooting low into the far corner.
Peterhead pushed home their advantage with a second goal seven minutes later with Bavidge involved again.
He cut the ball back from the by-line to the left and Graeme Stewart turned the ball in from a couple of yards out.
Three minutes later Buchan sent over a corner from the left and Craig Tully powered a header into the top corner.
A rampant Blue Toon netted a fourth when a Bavidge shot broke off a defender and into the path of Scott Michie who scored into the unguarded net.
In stoppage time, McGuffie scored a consolation for the demoralised visitors, who now head off for a short break in Spain.