The 48-year-old Brooks, the tournament winner in 1992 and 2002, and Fowler, the 20-year-old who had two top-10 finishes on the PGA Tour last month, had 7-under 209 totals.
“I just played pretty solid,” said Brooks, who had four birdies and one bogey. “I wasn’t really in a lot of trouble.”
In addition to his two Pebble Beach Invitational victories, Brooks was second behind LPGA star Juli Inkster in 1990.
“If it’s a nice day, guys can go low,” Brooks said about the final round at Pebble Beach. “I’ve played so many rounds here, it’s mind-boggling.”
Fowler, who earlier this week was invited by Greg Norman to play in the Shark Shootout, had five birdies in his bogey-free round.
“I had never played the course before,” Fowler said. “My caddie had walked the course, so I relied on him a lot. It made it a lot easier and I made a couple of good putts, too.”
Second-round co-leader Matt Bettencourt shot a 69 at Spyglass Hill, and was tied with Bryce Molder at 6 under. Molder had a 70 at Pebble Beach.
Former U.S. Open winner Scott Simpson, who carded a 68 at Spyglass, and Craig Bowden, who had a 73, also at Spyglass, followed at 4 under. Simpson was the leader among the 11 Champions Tour entrants. A Champions Tour player has never won the event.
Two-time defending champion Tommy Armour III had a 70 at Pebble Beach en route to a 5-over total. He made the cut by two strokes.
Mina Harigae, who will make her debut on the LPGA next season, shot a 70 at Spyglass. At 2 under, she was the lone woman to make the cut.
The top 40 pro scores and ties and the top-10 amateur teams advanced to the final round. The pro winner will earn $60,000 from the $300,000 purse.