The process will be allowed to go ahead after Mr Justice Supperstone said there was "no evidence" to show it should have
been categorised as posing more than a medium risk.
The interim injunction was applied for by Bob Dennett, who claimed emergency planning procedures at the Preston New Road site were inadequate.
Earlier this month, he told Sky News: "Lancashire County Council have failed in their duty to provide adequate proof that there are procedures in place to protect the general public should there be a major incident on the fracking site."
An additional legal challenge brought by Friends of the Earth regarding regulation at the site is still being considered by the High Court.
Jamie Peters, Friends of the Earth fracking campaigner, who was at the High Court, said: "Today's court ruling is sad news for local residents who've long fought against this dirty industry and the risks it poses to their environment and the climate.
"In a week in which the scale of action needed to stop climate chaos has dominated the headlines, it is simply wrong to be heralding the start of a new fossil-fuel industry.
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"You can have fracking or you can deal with climate change -you can't do both."