Schlierenzauer has played second fiddle to the returning Anders Jacobsen so far in the Four Hills, finishing second in both Oberstdorf and Garmisch-Partenkirchen as the Norwegian toasted two wins.
He appeared to be on his way to victory last time out in Garmisch-Partenkirchen only for Jacobsen to recover from a poor first round and jump within three metres of the hill record for the victory.
However there was to be no denying the 22-year-old on home soil in Innsbruck as he won by almost 13 points to set up a grandstand finale of the defence of his title in Bischofshofen on Sunday.
That's because Jacobsen wasn't even in the top three, finishing down in sixth as Poland's Kamil Stoch improved from fourth to second and reigning World Cup champion Anders Bardal dropped to third.
Schlierenzauer's first-round leap of 131.5m for 130.3 points effectively secured him victory with Bardal only managing 125m and 120.6 for second and Jacobsen 127m and 120.2 for third.
The Austrian jumped just 123m in the second round but it was still up there with the best and enough to give him an overall winning total of 253.7 points.
Stoch also leapt 123m to take his overall points tally to 240.9 while Bardal recorded 120m to fall to third on 235.4 while Jacobsen produced just 117.5m to end sixth on 230.5 overall.
Schlierenzauer now leads the Four Hills Tournament going into the final round in Bischofshofen with 827.5 points with Jacobsen second on 816.8 and the only man likely to challenge him.