Three goals in the final half an hour handed Morecambe their first home defeat in the league since the end of September on Saturday.
A brace from veteran front man Jamie Cureton and a composed finish from Arron Davies ended Jim Bentley’s side ten-match unbeaten run at the Globe Arena and saw Exeter move up to fourth in League 2.
The Shrimps made a bright start when Chris Holroyd latched onto a pass from Lewis Alessandra, but from a narrow angle his shot hit the side netting.
The new front man turned provider shortly after, crossing to the back post but Kevin Ellison could only direct his header wide under pressure.
Exeter ended the first period on top but Shrimps stopper Barry Roche was out quickly off his line to deny Cureton when he was put in on goal.
The second-half was far livelier, the visitors having the first chance after the break, captain Danny Coles curling wide from inside the box.
The home side had their best chance shortly after however, Alessandra doing well to round keeper Artur Krysiak before losing his balance and firing wide when he should have put the home side in front.
It turned out to be something of a turning point, with Paul Tisdale’s side taking the lead on 61 minutes.
Tommy Doherty showed composure in midfield and played in top goalscorer Cureton who calmly placed the ball past Roche.
The Shrimps nearly hit back shortly after however, Krysiak tipping Ryan Williams’ free-kick round the post before Jordan Burrow headed over from an Andy Parrish cross.
But Exeter always looked a threat on the break as the home side searched for a leveller and their pressure told on 86 minutes, Cureton and Jimmy Keohane linked up well outside the box, the ball falling to Davies who fired past Roche into the bottom corner.
With the Shrimps looking deflated, Exeter pushed forward again and Cureton completed the scoring as his ferocious strike arrowed into the top corner to complete the victory.
Morecambe: Roche, Parrish, Haining, Fenton, Wright, McDonald (Burrow 69), Drummond, Williams, Alessandra (Redshaw 61), Holroyd (Mwasile 81), Ellison. Subs not used: Arestidou, Doyle, Parkinson.
Exeter: Krysiak; Amankwaah, Coles, Baldwin, Woodman; Molesley, Doherty, Bennett, Davies; Keohane, Cureton. Subs not used: Evans, Tully, Bauza, Dawson, Gosling, Reid, Moore-Taylor.
Referee: S Bratt