WENTWORTH, United Kingdom, May 25, 2013 (AFP) - Canizares' strong finish enabled him to steal a one-shot advantage over Westwood with his 68 putting him on nine-under as sunshine and warmth made a welcome return to a course drenched by rain on the opening two days.
Italy's Matteo Manassero and Scotland's Marc Warren are just a shot further back on seven-under with a host of other contenders lying just behind and intending to make it a nail-biting Sunday shoot-out for the title.
There are 13 players within just four shots of the lead but Westwood, who is seeking his first ever victory in this tournament having been runner-up twice in his 20 years of taking part, was in confident mood.
The 40-year-old from Worksop, who is based in the United States said: "I have not won this tournament before and it would be nice to get my hands on the trophy. I'm after as many wins as I can get.
"If I do finish it off tomorrow it would rank right up there with my victory in the Race to Dubai title in 2009 and also Australia Open in 1997 when I beat Greg Norman.
"I felt much more in tune with my swing and had a lot of chances out there. I felt a lot of support and have never enjoyed a round of golf more than I did today. Perhaps they have missed me since I moved to Florida!"
The world number 12 thrived in the sun by eagling the fourth and birdies at the 7th, 12th, 14th and 17th put him into the lead. As others faltered, it was left to Canizares to deny him the lead when the Spaniard birdied the last two holes.
"I did not expect to be leading here going into the final day but I am not getting too excited because anything can happen," said Canizares. "I'm sure I will be nervous. More nervous than Lee Westwood but it is a great opportunity for me. I've done it a few times before so I know how it is."
"Some people say the pressure is always on the leader going into the fourth day but I would rather be leading than six shots back. So I am happy."
Overnight leader, Italian Francesco Molinari endured a minor meltdown at the end of his front nine - slipping back from eight-under to three-under as he dropped five shots in three holes but repaired some of the damage to make a 73 and four shots adrift along with brother Edoardo.
Scotland's Richie Ramsay produced the round of the day with a superb 66 to reach four-under while Spanish veteran Miguel Angel Jimenez also sparkled with a 67 to finish on the same score and England's Justin Rose had four birdies in a 69 to move to red figures.
Europe's Ryder Cup captain Paul McGinley, 46, continued his fine form with a two-under 70 helping him to par for the Championship.
Leading scores at the end of the third round of the European PGA Championship here at Wentworth on Saturday (par 72).
207 - Alejandro Canizares (ESP) 69-70-68.
208 - Lee Westwood (ENG) 70-71-67.
209 - Matteo Manassero (ITA) 69-71-69, Marc Warren (SCO) 69-70-70.
210 - Shane Lowry (AUS) 70-71-69.
211 - Pablo Larrazabal (ESP) 71-73-67, Sergio Garcia (ESP) - 72-71-68, E Molinari (ITA) 71-71-69, Lee Slattery (ENG) 71-71-69, Richard Bland (ENG) 71-71-69.
Eddie Pepperell (ENG) 71-69-71, Marc Foster (ENG) 70-69-72. Francesco Molinari (ITA) 70-68-73.
212 - Richie Ramsay (SCO) 71-75-66, Miguel Angel Jimenez (ESP) 76-69-67, James Kingston (RSA) 66-77-69, Alvaro Quiros (ESP) 70-73-69, Philip Price (WAL)
73-69-70, Gregory Havret (FRA) 70-71-71, Simon Khan (ENG) 69-72-71.
213 - Greig Hutcheon (SCO) 72-74-67. Tommy Fleetwood (ENG) 71-74-68, Peter Uhlein (USA) 72-73-68, Ross Fisher (ENG) 72-73-68, Graeme Storm (ENG)
73-71-69. David Drysdale (SCO) 71-73-69, Mikko Ilonen (FIN) 67-76-70, Niclas Fasth (SWE) 70-71-72, Ernie Els (RSA) 72-69-72.
Others:
214 - Gregory Bourdy (FRA) 71-73-70. B Wiesberger (AUT) 73-71-70, George Coetzee (RSA) 69-70-75.
215 - Justin Rose (ENG) 72-74-69. Branden Grace (RSA) 71-73-71, Wen-chong Liang (CHN) 75-68-72, Jason Levermore (ENG) 72-70-73, Nicolas Colsaerts (BEL)
72-70-73, Raphael Jacquelin (FRA) 71-71-73.
216 - Fabrizio Zanotti (PAR) 71-75-70, Thomas Levet (FRA) 71-75-70, Paul McGinley (IRL) 71-75-70, Soren Kjeldsen (DEN) 74-72-70, Richard Sterne (RSA) 71-74-71,
Alexander Noren (SWE) 74-71-71, Darren Clarke (NIR) 70-74-72.
217 - Marcel Siem (GER) 75-71-71, Chris Doak (SCO) 74-71-72, Garth Mulroy (RSA) 74-71-72, Jbe Kruger (RSA) 71-74-72, Thongchai Jaidee (THA) 74-71-72, Damien
McGrane (IRL) 72-73-72, Martin Kaymer (GER) 70-74-73, Anders Hansen (DEN) 70-74-73, Jaco Van Zyl (RSA) 75-69-73, Gonzalo Fernandez-Castano (ESP) 68-75-74.
218 - Peter Lawrie (IRL) - 74-72-72, Colin Montgomerie (SCO) - 71-75-72, Brett Rumford (AUS) 75-71-72, Danny Willett (ENG) 73-72-73, Oliver Fisher (ENG) 70-75-73,
Gary Lockerbie (ENG) 71-74-73, A Tadini (ITA) 73-71-74, Thomas Bjorn (DEN) 69-74-75.
219 - Andrew Dodt (AUS) 75-71-73, Jamie Donaldson (WAL) 71-75-73, Jarmo Sandelin (SWE), 76-69-74, Ricardo Santos (POR) 73-72-76.
220 - Scott Drummond (SCO) 70-75-75.
221 - Robert Coles (ENG) 75-71-75.
224 - Julien Quesne (FRA) 71-75-78, Jose Maria Olazabal (ESP) 75-71-78.