Latest updates: Lydia Ko at the Mediheal Championship, final round

Lydia Ko, of New Zealand, follows her approach shot to the fifth green. Photo / AP

Kiwi golfer Lydia Ko has won her first tournament in nearly two years, surviving a nail-biting playoff to win in San Francisco.

The 21-year-old hadn't won on the LPGA Tour since July 2016 when she captured her 14th title at the Marathon Classic. But she was won twice before on this course with victories in 2014 and 2015 and the formally known Swinging Skirts LPGA Classic tournament.

Preamble: Ko (-11) begins the final round with a one stroke lead over Jessica Korda (-10) after shooting an impressive five-under 67 yesterday. The duo tee off at 1.50pm local time (8.50am NZT). Australian Minjee Lee sits three strokes back from Ko in third at eight under and then four players are at six-under. Unless one of the players back in the back has a huge final round it looks like it will be a three-horse race.

25-year-old Korda has already tasted victory in 2018, winning the Honda LPGA Thailand event in February. That ended a two and a half year title drought for the American who has won five times on the LPGA. Lee hasn't won in the tour since October 2016 when she edged out Korda by one shot to win the Blue Bay LPGA event.

Round 3: Ko, who celebrated her birthday on Tuesday, hit 14 greens in regulation to match the low round of the day in cool and breezy conditions. Her three-day total of 11-under 205 was enough to overtake Korda, who shot 71.

Ko has been trying to contain her emotions, but she knows they might come pouring out if she were to prevail.

"I guess if it happens, I'm sure I'll be super excited. Who knows, it might be tomorrow, it might be the next week, might be in the year, who knows. I know that no matter what number win it is, it's always exciting to be the one holding the trophy," she said. "I think it would be emotional and exciting for not only me, but for my whole family."

Ko followed up her lone bogey by holing a bunker shot for birdie on the par-4 11th. She got up-and-down from a greenside bunker for birdie on the par-5 15th and made a 12-footer with about 3 feet of break that fell in the side of the hole on No. 16.

"You go, hey, holing a bunker shot once in a year, that might come, that might not. For me to have a couple chip-ins today and yesterday is really good," Ko said.