The 23-year-old Wilson, who reached the quarter finals of the Shanghai Masters in 2013, struck two century breaks and two half century breaks to wallop Leicester's Woollaston, last month's Welsh Open finalist and the world no. 26 who is seeded 23rd.
Wilson, seeded 40th here, won 24-74, 119(119)-1, 69(52)-35, 110(105)-16, 76(75)-6.
Li Hang of China, who has beaten four-time world champion John Higgins this season, continued his impressive run by outclassing Englishman Stuart Carrington 4-1 to enter the last 16, though the loser uncorked the highest break of the tournament - 138 - to win the fourth frame.
In another well-contested match, world no. 18 Mark Davis of England, seeded 10, fought his way to a 4-3 victory over world no. 30 Anthony McGill of Scotland to make the pre quarters.
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Davis, from Hastings, defeated the McGill, the 17th seed from Glasgow, 63-52, 77(52)-33, 84-43, 28-73, 19-64, 1-70(70), 70-41.
World No.13 Joe Perry, no. 16 Robert Wilkins and No.17 Graeme Dott - all from England and seeded 5, 7 and 9 respectively - had little trouble in reaching the last 16.
Mehta took a handy 3-0 lead before his rival, who has beaten the Indian professional in all their four previous meetings, clawed his way back to take the next three and draw level after the Indian ace muffed a simple black pot that would have given him a 4-1 victory.