The talented West Australian was 17 under after carding a five-under 66 in Saturday's third round at Brisbane's Royal Queensland Golf Club.

Scott just missed a putt on the 12th hole that would have tied the pair at the top of the leaderboard. But the 2013 US Masters champion, chasing his first title since early 2020, stumbled on his way home to card an even par 71 and remain 11 under.

He came desperately close to clawing back some ground with a great approach to the last hole. But Scott's birdie putt lipped out and Lee scrambled to make par.

Japan's Rikuya Hoshino (64) ran riot on the back nine with six birdies to claim outright second at 14 under, while Curtis Luck (13 under) bumped Scott into the penultimate group for Sunday.

Marc Leishman (nine under) is lurking while Lucas Herbert had three consecutive bogeys before recovering to shoot 69 and sit equal fifth at 10 under with Scotland's Connor Syme (64).

"It's a course you can shoot low, so you'll be aggressive no matter what," Lee said.

"I'm here because I played aggressively ... I can just control what I can do and if someone goes out and shoots low hopefully I finish the day happy with how I've played."

Min Woo Lee will take a three-stroke lead into the final round of the Australian PGA Championship. PHOTO: Getty Images.

US Korn Ferry Tour pro Luck and Lee grew up playing together in Perth but haven't shared a tee time in more than a decade.

"It's going to be amazing," Luck said after a five-under round punctuated by a string of near-misses.

"I've just been dealing with the ebbs and flows of golf.

"Had a couple of rough years and seems to be coming back up again."

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Fresh off earning full U.S PGA Tour playing rights, World No.45 Lee produced another remarkably steady round to be on the cusp of a fourth career title.

He avoided disaster after finding trees on the 9th and for the third straight day made just a solitary bogey.

The 25-year-old missed a chance to blow the tournament open when his low-flying 4-iron into to par-5 15th hole zipped up the bank to within four metres of the hole. But his eagle putt slid by, Lee arching his back in anguish before tapping in for birdie to move to 16 under.

He added another birdie on the 16th and then navigated the 17th party hole despite going over the back of the green for the second straight day.

Adam Scott hits his tee shot on the party hole 17th. PHOTO: Getty Images.

Starting one shot clear, rising star Lee built a buffer of four shots with a birdie on the 7th.

But three holes later that lead was just one, Scott with a tap-in birdie on the 9th as Lee scrambled from the trees to make par and another on the 10th to heap the pressure on.

Scott had a putt to draw level on the par-3 11th stall just short of the hole in a moment that could have swayed momentum.

– Murray Wenzel