John Merrick (65), Dan Buchner (68) and Matt Kuchar (67) are knotted in second place at 8-under-par 136. Chris Parra (70), Matt Weibring (69) and Kyle Thompson (66) share fifth place at minus-6.
Snedeker, who won this year's Scholarship America Showdown at Somerby, began on the back nine Friday and collected his first birdie at the par-5 12th when he got up and down from a bunker.
He dropped a shot at the very next hole, then went on a par run that lasted until the par-4 18th. Snedeker hit a 6-iron approach at the 470-yard closing hole that stopped inside 3 feet. He tapped in the birdie putt and made the turn at 1-under 35.
On the second nine, Snedeker caught fire. He hit a 9-iron to 6 feet to set up birdie at the first, then made it two in a row thanks to an 8-footer at the second.
Snedeker parred the third, but returned to his birdie ways at the par-5 fourth. He hit a lob-wedge to 8 feet to set up birdie there, then wedged his approach to a foot for a kick-in birdie at the sixth.
That was his last birdie of the round, but it was good enough for a two-shot lead heading into the weekend.
'My round was pretty much similar to yesterday,' said Snedeker. 'I hit more greens than yesterday so that put less stress on myself during the round. I made it easy on myself with some short birdie putts.'
Snedeker not only won this year, but was runner-up at the Chattanooga Classic when he lost a playoff to Kyle Reifers. Snedeker is 16th on the money list and another win would assure him a spot in the top 20 at the end of the year and his PGA TOUR card for 2007.
'I have to stay out of my own way and keep doing what I've been doing,' said Snedeker, who broke his collarbone in August. 'If I keep driving it the way I have the first two days, I like my chances. I'll keep it all in perspective and enjoy it tomorrow.'
Bradley Hughes (69), Andrew Buckle (69) and Craig Bowden (72) are knotted in eighth place at 5-under-par 139.
The 36-hole cut fell at 1-over-par 145 and 67 players advanced to the weekend.