Preece was born in Sunderland and began his career in his home-town, but no appearances resulted in him joining Darlington for free on a two-year deal.
At Darlington, Preece made over 100 appearances in two seasons before leaving to move to Scotland by joining Aberdeen.
At Aberdeen, Preece made over 100 appearances in six seasons.
In 2005, Preece left Scotland to move to Denmark by joining Silkeborg IF and OB.
At Silkeborg, Preece was first-choice until he left for OB where his first-team opportunities began to decline.
Preece returned to England by joining Barnsley free on a one-year contract, with the option to extend the contract by a further year.
After spending the first half of the season on the bench, Preece's big chance in the first-team came when he made his debut for the club (and first in English football for ten years) in a 1–0 loss against Watford in September 2009 and continued in goal for three consecutive games.
At the end of the season, Preece signed another one-year deal, despite being Barnsley's back-up goalkeeper.
He continued to be a back-up keeper during the 2011/12 season, but a wrist injury would rules him out for the season.
In December 2012, Preece signed non-contract terms with Lincoln City and made his debut in a 4–2 win over Dartford.
Later that month his contact was made permanent until the end of the season in a player-coach capacity and he played a pivotal role in saving Lincoln from relegation.
April 2013 saw Preece join Icelandic Premier League team Keflavík on a short-term deal following a brief loan.
He made this decision to ensure he was as fit as possible for the start of the English league season in August 2013.
A return to Lincoln would follow in August 2013 where he would become goalkeeping coach.
Preece then left the Imps in May 2016 upon conclusion of his contract.