Menzies stuns Wade in thriller as big names tumble at Grand Slam of Darts
Menzies threw an average of 93.50 to down Wade, the current world number 16, and book his place in his first-ever major quarter-final against Michael Mansell - who is also through to last eight for the first time.
The 35-year-old Scot raced into a 4-2 lead and recovered after falling 6-4 and 7-5 behind to take the last leg against the heavy pre-game favourite in a thrilling contest.
"I don’t know how to explain that," Menzies told Sky Sports. "I won the first five legs. I fumbled a bit. I don’t know what happened. I am ecstatic.
"I don’t deal with this very well. Getting involved with the crowd is my mentality thing. I’m a nervous wreck up here. My anxiety goes through the roof. The crowd just calms me. If it wasn’t for them, we wouldn’t be here.
"I’m lucky, I don’t think I’ve played well yet. I think I’m carrying a bit of luck for the first time in my life. Someone is looking over me at the moment."
Mansell recorded the biggest win of his career to book his first appearance in a televised quarter-final by downing 2022 UK Open champion Danny Noppert.
The 51-year-old lost the opening two legs before storming into a 6-2 lead. Although Noppert took the next three legs, Mansell recovered and rattled off four of the next six to reach the last eight.
Elsewhere, Martin Lukeman set-up a quarter-final clash against Rob Cross after recording a stunning 10-5 win over former European champion Ross Smith.
The world number 45, who never fell behind in the match, hit an average of 95.75 and took the final three legs to seal his place alongside Cross, who overcame Ritchie Edhouse 10-4 in the last match of the evening with thumping 164, 160 and 110 checkouts.