It was Hideki Matsuyama who made the biggest moves, an amazing 65 lap and rose to the top of the standings 11 under, four shots ahead of Justin Rose, Xander Schauffele, Will Zalatoris and Marc Leishman.
In a bogey-free round with five birdies and an eagle, Matsuyama went eagle-birdie-birdie between 15th and 17th to increase his lead.
Aiming to become the first Japanese man to win a major, Matsuyama was composed through all stages of his game. But it was his skill with his irons that gave him an edge as he carefully dissected the track.
“I played well today,” he told reporters. “My game plan has been implemented and hopefully I can continue my good form tomorrow.”
After the break due to bad weather, the greens turned out to be much slower and allowed players to hollow out more consistently.
Matsuyama, whose best finish at the 2015 Masters came when he finished fifth, benefited and performed remarkably consistently.
The world’s No. 25 had barely stray shots and punched a vital eagle putt on the 15th hole to take the lead for Rose, twice second to Augusta.
England’s Rose, who had been in the lead all weekend before being led by Matsuyama, looked steady and confident as other players tried their best to join him at the top.
He opened with two birdies on Saturday, but his positive start was soon wiped out by bogeys on fourth and fifth.
A birdie on the 12th and a bogey on the 16th saw him finish the day when he started at 7-under, although this time he had a lot of company around him on the leaderboard.
Masters debutant Zalatoris continued to impress despite his lack of experience at Augusta National, and the 24-year-old American hit four birdies to keep hopes of an unlikely victory.
Also in the hunt are the Australian Leishman, who charted 70 on the third day, and the American Shauffele, who closed with a 68 on the 15th after an eagle.
2015 Masters Champion Jordan Spieth, who came off his first PGA Tour win since 2017 last week, once again glimpsed his return to his best, hitting some outrageous chips and glorious putts to compete.
After a double bogey on the seventh, the three-time big winner hit a high chip on the eighth hole of the trees to land close to the pin and came in on the 10th to put him back into the fray.