It was the second NHL hat trick for Draisaitl, who had an assist and leads the NHL with 107 points (43 goals, 64 assists), two more than his previous NHL career high, set last season.
"I don't need to beat around the bush. When you score four goals, you feel good," Draisaitl said. "You feel good. You feel good about yourself. You feel good about your linemates, and obviously they made some great plays to me tonight, made it pretty easy for me."
WATCH: [All Oilers vs. Predators highlights]
Connor McDavid had a goal and four assists for the Oilers (35-23-8), who are two points behind the Vegas Golden Knights for first place in the Pacific Division. Mike Smith made 27 saves for Edmonton, which is 3-1-1 in its past five games.
The Predators (32-25-8) have lost two straight following a three-game winning streak and are tied with the Winnipeg Jets and Arizona Coyotes for the second wild card into the Stanley Cup Playoffs from the Western Conference.
"I just thought the whole game, we had some pushes, but we didn't sustain anything," Nashville coach John Hynes said. "I think tonight we got what we deserved. We had a couple pushes. We come out and tie the game early in the second, but it's a short little situation where we actually played a couple shifts where we played the right way."