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A repeat performance was not meant to be, as Clijsters was wide on match point to end any chance at becoming the eighth woman to repeat as Aussie champion.
Azarenka is 3-3 in her career against Sharapova, with two of those wins coming in finals.
The winner of Saturday's title match will become the new world No. 1, supplanting Clijsters' quarterfinal victim, Caroline Wozniacki. Sharapova has not held the top ranking since the week of June 8, 2007.
Kvitova beat Sharapova in straight sets to win her first Grand Slam last July, but trailed early against the three-time major titlist on Thursday at Melbourne Park.
Sharapova, seeded fourth, lost the second set, and was down 0-30 at 4-4 in the third before a replay reversal gave her new life. The Russian won the next four points to put the pressure back on Kvitova, who could not hold serve thanks to several unforced errors in the final game.
The 22-year-old Azarenka, meanwhile, became the first Belarusian woman to reach a Grand Slam final since Natasha Zvereva was the runner-up at Roland Garros in 1988 when she was representing the Soviet Union.
In doing so, Azarenka ended another memorable performance Down Under by Clijsters, who has stated she will retire after the Summer Olympics in London.
Azarenka held serve with relative ease the rest of the opening set to stay in the driver's seat, but Clijsters began her comeback by breaking at love on Azarenka's first service game in the second.
"I felt like my hand is about 200 kilograms and my body is about 1,000 and everything is shaking, but that feeling when you finally win is such a relief. My God I cannot believe it's over. I just want to cry," Azarenka said as she fought off tears, then put her face in a towel.
In the quarterfinals, Clijsters fought off four match points against last year's Aussie runner-up to her, Li Na.
"The match was very close. There were a few deciding moments where I think I maybe had a little bit of an advantage, in the third set, especially that first game where I had break point," Clijsters said. "But she definitely played really well. So she deserved to win at the end."
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March Madness odds and printable March Madness brackets
With the field of 64/65 set, MySportsbook.com has the Florida Gators as the 4-1 favorite to successfully defend their National Championship. Men’s Division-1 College Basketball has not seen a team repeat as National Champions since Duke won back to back championships in ’91 & ‘92. After losing three out of four late in the season, the Gators are full of momentum as they won their last four games by an average of 18 points. Not surprisingly, right behind the Gators are the other three top seeds: Kansas 5-1, UNC 6-1, and Ohio State 7-1. Many consider Kansas to be the hottest team in the country, having won 11 straight. With Kansas, it is hard to ignore all of the early exits from the “dance” in recent years. With an impressive ACC Tournament, UNC ensured themselves the other top seed. UNC has about as much talent as any other team in the tournament but with a team that’s best players are primarily freshman and sophomores, could youth be a concern. Behind freshman sensation, Greg Oden, OSU will look to do what their football team failed to do just a few months earlier. OSU seems to have peeked at the right time, as they currently have a 17 game winning streak. Since the tournament field was expanded in 1985, there has never been an instance where all four #1 seeds advanced to the Final Four. It is obvious that each of the top seeds have the talent to make it through to Atlanta. But as everyone knows, when makes the NCAA Tournament so special are all of the spoilers and “Cinderella” stories that knock off the favorites on a daily basis.
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MySportsbook.com’s odds to win the Championship and Regions:
| EAST | National Championship | Region |
| Arkansas | 300-1 | 50-1 |
| Belmont | 1000-1 | |
| Boston College | 100-1 | 40-1 |
| Eastern KY | 1000-1 | |
| George Washington | 75-1 | |
| Georgetown | 10-1 | 3-2 |
| Marquette | 100-1 | 40-1 |
| Michigan State | 100-1 | 25-1 |
| New Mexico St. | 500-1 | 200-1 |
| UNC | 6-1 | 6-5 |
| Oral Roberts | 500-1 | |
| Texas | 15-1 | 5-1 |
| Texas Tech | 200-1 | 5-1 |
| USC | 75-1 | 20-1 |
| Vanderbilt | 100-1 | 30-1 |
| Washington State | 40-1 | 15-1 |
| WEST | ||
| Duke | 50-1 | 10-1 |
| Florida A&M | 1000-1 | |
| Gonzaga | 200-1 | 40-1 |
| Holy Cross | 300-1 | |
| Illinois | 300-1 | 60-1 |
| Indiana | 75-1 | 40-1 |
| Kansas | 5-1 | 13-10 |
| Kentucky | 100-1 | 40-1 |
| Niagara | 1000-1 | |
| Pittsburgh | 40-1 | 8-1 |
| Southern Ill. | 50-1 | 12-1 |
| UCLA | 10-1 | 3-2 |
| VCU | 500-1 | 100-1 |
| Villanova | 100-1 | 40-1 |
| VA Tech | 50-1 | 15-1 |
| Weber St | 1000-1 | |
| Wright St | 1000-1 | 300-1 |
| MIDWEST | ||
| Arizona | 50-1 | 30-1 |
| Butler | 40-1 | 30-1 |
| Davidson | 300-1 | |
| Florida | 4-1 | 4-5 |
| Georgia Tech | 75-1 | 25-1 |
| Jackson State | 1000-1 | |
| Maryland | 30-1 | 6-1 |
| Miami-OH | 300-1 | |
| Notre Dame | 100-1 | 20-1 |
| ODU | 500-1 | 100-1 |
| Oregon | 40-1 | 6-1 |
| Purdue | 300-1 | 60-1 |
| Texas A&M CC | 1000-1 | |
| UNLV | 100-1 | 30-1 |
| Winthrop | 500-1 | 100-1 |
| Wisconsin | 15-1 | 7-2 |
| SOUTH | ||
| Albany | 200-1 | |
| BYU | 200-1 | 40-1 |
| Central CT St. | 1000-1 | |
| Creighton | 100-1 | 35-1 |
| Long Beach St. | 500-1 | 200-1 |
| Louisville | 40-1 | 10-1 |
| Memphis | 30-1 | 4-1 |
| Nevada | 75-1 | 35-1 |
| North Texas | 500-1 | |
| Ohio State | 7-1 | 6-5 |
| Penn | 500-1 | |
| Stanford | 200-1 | 50-1 |
| Tennessee | 100-1 | 20-1 |
| Texas A&M | 12-1 | 11-5 |
| Virginia | 75-1 | 18-1 |
| Xavier | 100-1 | 40-1 |
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