The two stand at 19-under 125; one stroke clear of defending champions Scott McCarron and Brad Faxon, who combined for a 10-under 62.
Raymond Floyd and Stewart Cink, the oldest and youngest players in the field, respectively, are two back after also shooting 62.
Daly, who won the European Tour's BMW International, and Lickliter, who won the Kemper Open, torched the front nine at the Tiburon Golf Club, birdieing eight holes. Their lone par came on the 223-yard, par-3 5th.
The two stalled with back-to-back pars to start the back nine, but birdied five of the final seven holes to shoot the sub-60 score.
That was just a lot of fun, nothing went wrong, Daly said. I think we can birdie every hole tomorrow.
Sundays format is a scramble. The 18-hole tournament scoring record is 55, shot by Greg Norman and Nick Price in 1993 at Sherwood Country Club, and matched by John Cook and Peter Jacobsen at Sherwood in '98.
The winners will split $450,000. After the final round, Norman will fly to St. Augustine to be inducted into the World Golf Hall of Fame on Sunday night.
Full-field scores from the Franklin Templeton Shootout