Sorenstam, the defending champion, is through three rounds at 17-under-par 199 for a one-shot lead over Sung Ah Yim.
Sorenstam ran away with this title last year, beating Candie Kung by 10 shots for the fourth of 10 wins she collected last year.
The world No. 1 has just one victory this season -- at the MasterCard Classic last month -- but if recent history is any indicator, Sorenstam will collect her second title on Sunday: She has gone on to win each of the last six times she has held at least a share of the third-round lead.
'I'm in a little bit of a different position than last year, but having said that, I think I'm in great shape for tomorrow,' said Sorenstam. 'It seems like I like this golf course. I'm going to go out and enjoy it tomorrow as well.'
Sorenstam began Saturday in a tie for fifth place, and after a 45-minute weather delay pushed the start of the round back, she began making immediate headway with birdies on her first two holes.
Her birdie at the par-5 second came after she chipped within inches from just short of the green.
Sorenstam's only bogey of the round, at the par-4 fifth, was followed by four consecutive birdies that put the Swede at 14 under. Those birdies came on putts that totaled 35 feet.
'It seemed like once I made a birdie I kept going with it,' Sorenstam said. 'I putted well today...which is really the key.'
Sorenstam, who will be looking for her 68th career win on Sunday, added three more birdies on the back nine -- at the 13th, 16th and 18th holes -- to assume the lead over Yim. She also saved par at the par-4 17th with an 11-foot putt.
'I'm happy with the way I'm playing,' said Sorenstam. 'I'm hitting a lot of fairways and greens and am putting well.
'I think I have become friendly with the golf course.'
Yim carded a bogey-free round, but her four birdies were not enough. She carded three consecutive birdies from the second hole, but then didn't pick up another shot until her birdie at the par-5 13th, where she knocked a pitching wedge within four feet.
Like everyone else, Yim also sat through an 85-minute weather delay in the middle of her round.
'I had a good day -- just a little thunderstorm stopped the play,' said Yim, whose best career finish was a tie for third place at the Jamie Farr Owens Corning Classic last year, her rookie season on the LPGA Tour.
'I think it's a good round -- good enough for me,' added the South Korean.
Karrie Webb, a winner at the Kraft Nabisco Championship two weeks ago, leads a group of five players tied for third place at 12-under-par 204. Webb shot a 2-under 70 on Saturday and is tied with Sherri Turner (63), Jeong Jang (67), Beth Daniel (68) and Brittany Lang (69).
Cristie Kerr is one stroke further back in eighth place after a third-round 65.