Halfback Cooper Cronk was a stand-out as he, winger Marika Koroibete and second-rower Kevin Proctor each scored two tries apiece.
Koroibete showed off his amazing athleticism to dive onto a Smith kick for his first, he then raced 90 metres to touch down for his second, after diffusing a Panthers bomb.
Melbourne had the match won by halftime, leading 26-0 after a brilliant start.
Cronk opened the scoring in the fifth minute thanks to a perfect chip kick into the in-goal by Smith that popped up into his arms.
Tohu Harris, Proctor and Koroibete all scored before Cronk took advantage of Penrith losing centre Isaah Yeo to the sin-bin for a professional foul.
Yeo was given a stint on the sidelines for holding Cronk back as he attempted to get to a ball in the in-goal but the Storm No.7 made the most of a second chance just a minute later.
After almost 60 minutes, the Panthers finally got their first points through winger Waqa Blake and they were able to double it soon after with fullback Will Smith touching down.
To Penrith's credit the second half was fairly level everywhere but the scoreboard, but the heavy defensive work took its toll, with late Storm tries by Mahe Fonua, Proctor and one by Richie Kennar capping the night.
In last night's other NRL game, in Sydney, Josh Jackson inspired Canterbury to a 28-4 win over Parramatta.
Frank Pritchard scored a double for the Bulldogs, with Jackson crossing for one himself, a reward for constantly menacing the Eels defence with his strong running.
Pritchard scored the opener in the 21st minute when Trent Hodkinson dummied his way through the Eels defensive line, and in the 46th minute when he latched onto a Josh Reynolds cross kick.
Jackson's carving 30m run in the 52nd minute put the Dogs further ahead, before a scintillating 80m effort from Brett Morris two minutes later put the result beyond doubt in front of 17,082 fans.
In an ugly stop-start first half, the Eels did their best to stay with the Dogs, matching it with Canterbury's monster pack in the middle of the park, with centre Brad Takairangi providing impetus out wide.
Semi Radradra burrowed his way over from close range for the Eels just three minutes before halftime for a deserved try for the home side, and a 6-4 halftime lead in favour of the Dogs.
But it was a different story in the second half, with the Dogs clicking into gear. The final score could have been much greater with Tim Lafai ignoring an unmarked Sam Perrett outside him and Josh Morris dropping the ball with the line beckoning late in the game.
Curtis Rona's 80th minute try was the Dogs' fifth of the night.
Parramatta now need to win all of their final seven matches to ensure a final eight spot.
To make matters worse for the Eels, Corey Norman is set for a month-long stint on the sidelines after suffering a knee injury in the second half.
Parramatta forward David Gower was put on report in the first half for dangerous contact in a tackle on Brett Morris.
The win should ensure Canterbury remain in the top eight at the end of round 19.
Moses Mbye was rested by Dogs coach Des Hasler with Reynolds and Hodkinson forming a settled combination throughout the night in the halves.
- AAP
