Taylor Jenkins's side prevailed 152-79 versus the out-of-sorts Thunder - prevailing by 73 points - which saw them shatter the previous record set all the way back in 1991.
The Cleveland Cavaliers' 148-80 victory over the Miami Heat 30 years ago - a margin of 68 points - has been surpassed by the ruthless Grizzlies, who condemned the Thunder to an eighth defeat in succession.
Jenkins paid tribute to his record-breaking team after the encounter, telling ESPN: "Franchise records are obviously great. Obviously proud of our guys that they don't think about that.
"We're just motivated by what are our standards every single night. Tonight was on pretty full display both offensively and defensively."
Jaren Jackson Jr led the Grizzlies charge with 27 points on the night, and nine of the 12 players in the victors' team registered double-figure tallies in the humiliation.
Jenkins's men were 72-36 up after the second quarter and did not let up following half time, with that win marking their third on the bounce following previous successes over the Toronto Raptors and Sacramento Kings. body check tags ::