Nouha Dicko fired Blackpool to victory at the KC Stadium with a fabulous overhead kick seven minutes from time.
Hull had looked on course after Sone Aluko and Stephen Quinn helped Steve Bruce's side recover from Matt Phillips' early goal for Blackpool.
But two inspired changes by Blackpool manager Ian Holloway changed the game.
Substitute Kevin Phillips levelled after 70 minutes before Dicko produced a piece of magic to claim the points.
The result lifts Blackpool back into fourth place, two points from the automatic promotion places on a night when Gary Taylor-Fletcher returned from a back injury, one of six changes from the team beaten by Cardiff.
Blackpool had made the perfect start, scoring with their first attack of the game as an unmarked Matt Phillips fired Nathan Delfouneso's cross beyond Ben Amos from 10 yards.
Jay Simpson blazed wildly over for the Tigers, before Alex Bruce produced a terrific last-ditch tackle to deny Delfouneso as he bore down on goal.
The Tigers were piling on the pressure themselves, however, with shouts for a penalty waved away as Sone Aluko went to ground under a challenge from Stephen Crainey. From the resulting corner, the ball into the box appeared to strike Tiago Gomes's arm, but again the appeals fell on deaf ears.
However, six minutes before the break, Hull were level. Aluko received the ball midway inside Blackpool's half and looked around for support before letting fly with a brilliant effort from 25 yards.
A terrific ball from Aluko put Simpson in the clear, only for him to stumble and lose control, but Hull took the lead inside two minutes of the second half through Quinn. A great ball from Aluko found the Irishman near the byline and from an acute angle he dispatched a clinical shot into the far corner.
Ahmed Elmohamady shot straight at Gilks, a Quinn effort was deflected for a corner by Osbourne and Abdoulaye Faye then headed over as Hull pressed for a third, but despite all the hosts' pressure, Blackpool equalised after 70 minutes.
Crainey swung over a free-kick, Taylor-Fletcher prodded the ball across goal and Kevin Phillips bundled it home from a yard out.
Holloway introduced Dicko after 75 minutes and eight minutes later he fired the visitors ahead with a brilliant overhead kick.
Kevin Phillips chased a long ball over the top and as Amos went to close him down on the byline, the veteran striker chipped over a cross which was headed clear only as far as Dicko, who flung himself into the air to score a stunning winner.
Hull City manager Steve Bruce: "It has been a horrible week. We have got to stop these ridiculous mistakes we're making.
"The second goal we have not picked up from a free-kick, and the third goal, there were so many individual errors and unfortunately it has cost us the game, which I didn't think we deserved.
"It was very, very disappointing. We played really well, but shot ourselves in the foot by making so many silly mistakes."
Blackpool manager Ian Holloway: "That was a fantastic advert for how good the Championship is and how good it is going to be.
"There were two really good teams out there. I would have taken a point once it got back to 2-2, but an overhead kick has managed to get us the win.
"It could have gone either way, but obviously I am delighted it has gone ours."
Live Text Commentary
Full Time The referee blows for the end of the match.90:00 +2:06
Nouha Dicko fouled by Stephen Quinn, the ref awards a free kick. Kevin Phillips restarts play with the free kick.90:00 +1:01
Inswinging corner taken by Sone Aluko.89:29
The ball is sent over by Liam Rosenior, save made by Matt Gilks. The assistant referee signals for offside against Gary Taylor-Fletcher. Indirect free kick taken by Stephen Quinn.88:33
Kevin Phillips is flagged offside by the assistant referee. Abdoulaye Faye takes the free kick.86:46
Ahmed Elmohamady delivers the ball, save made by Matt Gilks.85:03 Substitution
Substitution Aaron Mclean on for Joe Dudgeon.83:51
Seyi Olofinjana delivers the ball, Headed effort from deep inside the penalty area by Jay Simpson misses to the right of the target.83:04
The ball is swung over by Liam Rosenior, Jay Simpson takes a shot. Save made by Matt Gilks.82:04
Assist on the goal came from Kevin Phillips.82:04 Goal scored
Goal! - Nouha Dicko - Hull 2 - 3 Blackpool Nouha Dicko finds the back of the net with a goal from inside the penalty area high into the middle of the goal. Hull 2-3 Blackpool.81:56
The ball is crossed by Kevin Phillips,80:25
Ahmed Elmohamady produces a cross, clearance by Ian Evatt. Shot from just outside the box by Robert Koren misses to the right of the target.79:08
Free kick crossed by Robert Koren, clearance made by Alex Baptiste.79:08 Substitution
Substitution Ludovic Sylvestre on for Nathan Delfouneso.79:08
Foul by Nathan Delfouneso on Liam Rosenior, free kick awarded.78:27
The ball is crossed by Ahmed Elmohamady, Isaiah Osbourne makes a clearance.75:19
Shot from outside the box by Gary Taylor-Fletcher goes wide right of the target.74:53
The ball is delivered by Liam Rosenior, Shot on goal by Jay Simpson from inside the box goes harmlessly over the target.74:24 Substitution
Substitution (Blackpool) makes a substitution, with Nouha Dicko coming on for Matt Phillips.
Free kick awarded for an unfair challenge on Ahmed Elmohamady by Stephen Crainey. Liam Rosenior takes the direct free kick.72:43
Nathan Delfouneso produces a right-footed shot from inside the area that clears the bar.70:57
Assist by Ian Evatt.70:57 Goal scored
Goal! - Kevin Phillips - Hull 2 - 2 Blackpool Kevin Phillips finds the net with a goal from close range to the bottom left corner of the goal. Hull 2-2 Blackpool.69:52
Unfair challenge on Kevin Phillips by Liam Rosenior results in a free kick. Centre by Stephen Crainey, Effort from inside the penalty box by Ian Evatt hits the post.69:02
Kevin Phillips has a drilled shot. Blocked by Paul McShane.66:47
The ball is sent over by Neal Eardley, Alex Baptiste takes a shot. Save by Ben Amos.66:47 Substitution
Substitution Tiago Gomes goes off and Kevin Phillips comes on.66:47
Free kick awarded for an unfair challenge on Tiago Gomes by Robert Koren.66:02
Neal Eardley delivers the ball, Seyi Olofinjana manages to make a clearance. The ball is sent over by Stephen Crainey, save by Ben Amos.64:46
The ball is sent over by Stephen Crainey.63:26
The ball is delivered by Ahmed Elmohamady, Neal Eardley manages to make a clearance.62:26
A cross is delivered by Sone Aluko, clearance by Barry Ferguson.61:03
Seyi Olofinjana sends in a cross, Header from deep inside the area by Abdoulaye Faye goes over the bar.60:28
Inswinging corner taken from the left by-line by Robert Koren, clearance by Ian Evatt.59:56
Corner from the right by-line taken by Sone Aluko, Ian Evatt makes a clearance.59:50
Centre by Ahmed Elmohamady, clearance made by Alex Baptiste.58:54
Nathan Delfouneso challenges Paul McShane unfairly and gives away a free kick. Ben Amos takes the direct free kick.58:34
The offside flag is raised against Sone Aluko. Indirect free kick taken by Alex Baptiste.57:57
Sone Aluko is caught offside. Alex Baptiste restarts play with the free kick.56:54
A cross is delivered by Ahmed Elmohamady, Matt Gilks makes a save.56:14
Corner taken by Robert Koren, Barry Ferguson makes a clearance.54:27
The ball is delivered by Neal Eardley.53:51
Centre by Stephen Quinn, Paul McShane takes a shot. Matt Gilks makes a save.53:09
The ball is crossed by Ahmed Elmohamady, Neal Eardley manages to make a clearance. Stephen Quinn takes a shot. Matt Gilks makes a save. Corner from the right by-line taken by Sone Aluko, Ian Evatt manages to make a clearance.51:40
Neal Eardley gives away a free kick for an unfair challenge on Stephen Quinn. Free kick taken by Joe Dudgeon.50:35
The ball is delivered by Liam Rosenior, clearance by Alex Baptiste.49:53
Tiago Gomes takes a shot. Save by Ben Amos.49:34
Matt Phillips takes the chance to get an effort at goal. Blocked by Paul McShane.48:42
A cross is delivered by Sone Aluko, Ahmed Elmohamady takes a shot. Save made by Matt Gilks.46:31
Assist by Sone Aluko.46:31 Goal scored
Goal! - Stephen Quinn - Hull 2 - 1 Blackpool Stephen Quinn finds the back of the net with a goal from close range to the bottom right corner of the goal. Hull 2-1 Blackpool.46:21
Ahmed Elmohamady produces a cross, Stephen Crainey makes a clearance.45:01
The second half begins.45:00 +2:25 Half time
Half Time The first half comes to an end.45:00 +0:50 Substitution
Substitution Alex Bruce goes off and Liam Rosenior comes on.43:53
Tiago Gomes concedes a free kick for a foul on Stephen Quinn. Direct free kick taken by Abdoulaye Faye.43:22
A cross is delivered by Stephen Quinn, Nathan Delfouneso makes a clearance.42:13
Stephen Quinn sends in a cross, clearance by Stephen Crainey. Inswinging corner taken left-footed by Sone Aluko played to the near post, Gary Taylor-Fletcher makes a clearance. Corner taken by Sone Aluko from the right by-line to the near post, Alex Baptiste makes a clearance.42:04
The ball is swung over by Ahmed Elmohamady, clearance by Neal Eardley.38:58
Assist on the goal came from Joe Dudgeon.38:58 Goal scored
Goal! - Sone Aluko - Hull 1 - 1 Blackpool Sone Aluko fires in a goal from outside the penalty area to the top left corner of the goal. Hull 1-1 Blackpool.38:39
A cross is delivered by Ahmed Elmohamady, Ian Evatt manages to make a clearance.37:53
Paul McShane fouled by Matt Phillips, the ref awards a free kick. Direct free kick taken by Ahmed Elmohamady.34:15
The ball is delivered by Sone Aluko.33:31
Centre by Ahmed Elmohamady, Neal Eardley manages to make a clearance. Short corner taken by Sone Aluko.32:19
The offside flag is raised against Jay Simpson. Indirect free kick taken by Matt Gilks.31:54
The ball is swung over by Ahmed Elmohamady, clearance made by Alex Baptiste. Effort on goal by Jay Simpson from 20 yards. Save by Matt Gilks.30:42
Free kick awarded for a foul by Paul McShane on Matt Phillips. Free kick taken by Stephen Crainey.27:01
Nathan Delfouneso takes a shot. Blocked by Alex Bruce. Tiago Gomes takes a outswinging corner from the right by-line played to the near post, Alex Bruce makes a clearance.26:24
Nathan Delfouneso takes a shot. Save by Ben Amos.25:51
Shot from just outside the area by Jay Simpson goes over the bar.24:48
Stephen Quinn produces a cross. Inswinging corner taken left-footed by Sone Aluko from the right by-line, clearance made by Alex Baptiste.23:55
Free kick awarded for a foul by Tiago Gomes on Seyi Olofinjana. Robert Koren takes the free kick.23:07
A cross is delivered by Jay Simpson.21:05
A cross is delivered by Neal Eardley, clearance made by Abdoulaye Faye. Free kick awarded for an unfair challenge on Stephen Quinn by Neal Eardley. Direct free kick taken by Ben Amos.20:05
Robert Koren concedes a free kick for a foul on Stephen Crainey. Stephen Crainey takes the free kick.19:38
Matt Phillips sends in a cross.18:48
Foul by Stephen Quinn on Tiago Gomes, free kick awarded. Neal Eardley restarts play with the free kick.16:18
Ahmed Elmohamady delivers the ball, Alex Baptiste manages to make a clearance. Corner taken right-footed by Sone Aluko from the right by-line, clearance made by Alex Baptiste.14:38
Free kick awarded for a foul by Stephen Quinn on Tiago Gomes. Stephen Crainey crosses the ball in from the free kick, clearance made by Robert Koren.13:45
Seyi Olofinjana concedes a free kick for a foul on Barry Ferguson. Free kick taken by Tiago Gomes.12:58
Matt Phillips is ruled offside. Indirect free kick taken by Ben Amos.10:55
The assist for the goal came from Nathan Delfouneso.10:55 Goal scored
Goal! - Matt Phillips - Hull 0 - 1 Blackpool Matt Phillips grabs a goal from inside the penalty box to the top left corner of the goal. Hull 0-1 Blackpool.10:08
Jay Simpson is caught offside. Stephen Crainey takes the indirect free kick.8:05
Joe Dudgeon produces a cross, Barry Ferguson manages to make a clearance.4:05
The ball is sent over by Ahmed Elmohamady, save by Matt Gilks.1:15
Free kick awarded for a foul by Tiago Gomes on Stephen Quinn. Stephen Quinn takes the direct free kick.0:00
The game begins.
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