The Grizzlies erupted for 48 points in the first period to take a stranglehold on the contest as Golden State's suspect defense was exposed once more.
Tyus Jones led the Memphis scorers with 22 points while Desmond Bane and Jaren Jackson Jr. had 21 points apiece as six Grizzlies players finished in double figures.
The emphatic victory was a welcome piece of good news for Memphis after a challenging week.
The Grizzlies were once again without the services of star point guard Ja Morant, who is under investigation by the NBA for posting a video on social media of himself waving a handgun in a strip club.
The win also gave Memphis bragging rights over a Golden State team with whom they have developed an increasingly fractious rivalry in recent seasons.
The Warriors beat the Grizzlies in the Western Conference playoffs last season en route to the NBA title, and the build-up to Thursday's game had been marked by a war of words between Memphis' Dillon Brooks and Golden State's Draymond Green.
The bad blood threatened to spill into Thursday's clash, with the two men getting into a tense confrontation in the second quarter which ended with them being separated by a referee.
Warriors coach Steve Kerr was left lamenting the first-quarter tactical gamble of starting four guards that saw his team routed.
Elsewhere on Thursday, the Milwaukee Bucks overcame the absence of Giannis Antetokounmpo to extend their lead at the top of the Eastern Conference with a 118-113 win over Brooklyn.
Bobby Portis led the Bucks scorers with 28 points while Brook Lopez added 24 and Grayson Allen 19.
The Bucks jumped out to a 22-point lead early in the second quarter but Brooklyn chipped away and got within two points with less than a minute remaining.
Milwaukee held on for victory and now lead the East by 2.5 games from the Boston Celtics with a 48-18 record.