KAPOLEI, Hawaii, April 20, 2013 (AFP) - Pettersen bogeyed the final hole of regulation in a five-under 67. Salas saw a birdie attempt at the last lip out, but closed with a course-record 10-under 62 at Ko Olina to join Pettersen on 19-under par 269.
They shattered the tournament's 72-hole scoring record of 276 set by Japan's Ai Miyazato when she won last year.
"I played great," Pettersen said. "I hit one bad tee shot. I'm really happy. I tried to stay aggressive. I didn't really look behind and I didn't really look at the board.
"Lizette played outstanding," Pettersen added. "That's what you've got to win tournaments. She kept pressing me, which kept me on my fifth gear."
Pettersen and Salas went back to the 18th tee for the playoff and both were in the fairway off the tee.
Pettersen's approach was some 20 feet left of the pin.
Salas, playing in her first LPGA Tour playoff, hit her second shot into the water. She hit her fourth to 15 feet.
Pettersen left her birdie attempt two feet short. Salas's putt for bogey was left and after she tapped in for a double-bogey Pettersen calmly made her par putt to secure her 11th LPGA title.
"My only bad shot of the day was that chunk in the playoff," said Salas, whose round included nine birdies and an eagle at the par-four 10th. "A chunk was not bad, but there's water.
"I played my behind off today. After that eagle on 10, I kept the momentum going. I'm very proud of myself and I'm almost there for my first win."
Pettersen, already a winner this year on the Ladies European Tour, earned $255,000 for the victory and is projected to rise one place to fifth in the world rankings.
Thai teen Ariya Jutanugarn, the first-round leader on Wednesday, closed with a six-under par 66 for third place on 273.
World No. 1 Park In-Bee of South Korea carded a 67 and compatriot I.K. Kim a 65 to share fourth on 275.
Miyazato managed an even par 72 in the final round and was tied with South Korean Choi Na-Yeon (66) and American Jessica Korda (69) on 277.
Stacy Lewis, replaced by Park atop the world rankings last week carded a 71 that put her among six players tied for ninth on 10-under 278.
The group also included 15-year-old New Zealand amateur sensation Lydia Ko, who carded a 66.
Leading final-round scores on Saturday in the USLPGA Tour's Lotte Championship (x-won playoff; a-denotes amateur; USA unless noted):
269 - x-Suzann Pettersen (NOR) 65-69-68-67, Lizette Salas 69-71-67-62
273 - Ariya Jutanugarn (THA) 64-75-68-66
275 - I.K. Kim (KOR) 70-70-70-65, Park In-Bee (KOR) 70-71-67-67
277 - Choi Na-Yeon (KOR) 70-74-67-66, Jessica Korda 72-70-66-69, Ai Miyazato (JPN) 67-68-70-72
278 - Feng Shanshan (CHN) 70-70-73-65, a-Lydia Ko (NZL) 71-71-70-66, Caroline Hedwall (SWE) 69-72-70-67, Stacy Lewis 67-71-69-71, Kim Hyo-Joo (KOR) 66-71-69-72, Seo Hee-Kyung (KOR) 65-72-66-75
279 - Karine Icher (FRA) 70-71-72-66, Kang Hae-Ji (KOR) 68-71-74-66
280 - Paula Creamer 71-72-71-66, Karrie Webb (AUS) 69-74-70-67, Vicky Hurst 69-72-72-67, Beatriz Recari (ESP) 67-70-72-71
281 - Azahara Munoz (ESP) 72-73-70-66, Jodi Ewart Shadoff (ENG) 72-68-68-73
282 - Mo Martin 70-75-71-66, Pornanong Phatlum (THA) 70-70-73-69, Meena Lee (KOR) 72-71-69-70, Paola Moreno (COL) 72-70-69-71, Park Hee-Young (KOR) 69-72-69-72