In this article, the observer-based preview tracking control problem is investigated for a class of discrete-time Lipschitz nonlinear systems. To convert the observer-based trajectory tracking problem into a regulation problem, the classical difference technique is used to construct an augmented error system containing tracking error signal and previewable reference knowledge. Then, a state feedback controller with specific structures is taken into consideration. Sufficient design condition is established, based on the Lyapunov function approach, to guarantee the asymptotic stability of the closed-loop system. By means of some special mathematical derivations, the bilinear matrix inequality condition is successfully transformed into a tractable linear matrix inequality. Meanwhile, the gains of both observer and tracking controller can be computed simultaneously only in one step. As for the original system, the developed tracking control law is composed of an integrator, an observer-based state feedback controller, and a preview action term related to the reference signal. Finally, two numerical examples are provided to demonstrate the effectiveness of the theoretical method.