In Saturday's last four tie, world number two Sharapova needed just under two hours to see off Kvitova to claim revenge for her defeat in the 2011 Wimbledon final and secure a 6-4, 7-6 (7/3) victory.
Having lost to world number one Azarenka twice already in the three finals she has contested this season, the Russian is hoping for fourth-time lucky on Sunday with 115,000 dollars plus a new sports car on offer for the winner.
Sharapova broke her Czech opponent in the fifth game in the first set and the 11th of the second, after Kvitova had earlier missed a chance for a set point, before the world number three broke back.
Sharapova failed to serve out at 6-5 up as the second set went to a tie-break when the Russian held her nerve having raced into a 3-0 lead and said she is looking forward to facing Azarenka in the final.
"She is really confident this year and is the one to beat, I am really looking forward to the match," said Sharapova.
Sharapova will claim the 25th title of her career if she beats Azarenka and said her semi-final win was hard earned.
"It was extremely close and I am just glad to get through," said the Russian.
"She's a very powerful hitter and hits it really low, you have to stay down and be aggressive."
Azarenka booked her place in the final with a 6-1, 6-3 win over Poland's Agnieszka Radwanska.
It was the fifth time this year Azarenka had beaten the Pole having already seen off the world number four on hardcourt in Sydney, at the Australian Open, Doha and Indian Wells.
It was their first meeting on clay, but Azarenka needed just 24 minutes to blitz Radwanska to take the first set as the Polish number one managed just 11 points.
In the second, the Belarusian kept up the pressure with an impressive selection of shots, but despite claiming her tenth overall victory over Radwanska in just 77 minutes, Azarenka insisted it had been far from easy.
"I think she is such a good player that I have to step up to beat her, I think she brings the best out of my game," said Azarenka.
"We had some good rallies and I was just trying to stay in control of the game."
Despite needing nearly three hours to beat wildcard Mona Barthel in Friday's quarter-final, Azarenka said she was feeling little fatigue.
"Sometimes the long matches make you feel tired, but sometimes they energise you and give you confidence," she said. "I felt good on the court."
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