Yorkshireman Moody was the first British teenager to make his debut at the Crucible since Judd Trump in 2007 and got a great reception from the Sheffield crowd.
He made an instant impact with breaks of 84 and 91 in the opening three frames to open up a 3-0 lead - earning praise from some of the sport's best players during the BBC commentary.
Seven-time world champion Stephen Hendry said: "It's great to play this way, without thinking of the consequences if you miss.
"He is playing with a freedom of 'he doesn't care what he leaves if he misses a pot'."
Moody had a three-frame lead at the end of the first session following two superb centuries, of 110 and 101.
That advantage stretched to four frames when he took the opening frame of the second session, but Wilson produced a dogged performance to put pressure on the teenager, before eventually moving ahead.
"I dug in deeper than deep," said Wilson, who will next play Northern Ireland's Mark Allen. "It was really difficult at 7-3 down and you just have to keep going to the well and I won a couple of really big frames.
"I was fighting with a few feelings and you have to dig in and win that scrappy one and see if it can turn around. Stan has not got the experience I have got, especially here and I knew coming into the evening the adrenaline would seep out.
"Stan has been a credit, especially to the younger generation. My kids know his name - he is inspiring them and they are going to the same junior tournaments he was playing in."
Hendry felt this loss would be a vital experience for Moody in his career.
"Quite frankly it has been a collapse, but you learn from these things," said Hendry.
"It has been a great match to watch. We've seen enough of Stan to know he has a tremendous future in the game if he continues to work hard and learn from this experience.
"There's no doubt he has got the talent. He has gone through the elation from playing so well to torture and that's what the Crucible brings."