Robyn Choi is still the highest-placed Aussie after carding a third-round one-over par 73 to lie tied for 16th place, eight shots off the lead at Royal Lytham.
And Choi's compatriot Hannah Green, on three over, is in a group of eight tied for 27th place after carding a third-round 72.
Noh produced a composed display down the stretch, playing the back nine in three under par before closing with a par at the last to finish at seven under overall.
The 25-year-old will take a three-shot advantage into Sunday's final round as she chases her maiden major championship.
A group of five players share second place on four under, including Japan's Shiho Kuwaki and South Korea's Haeran Ryu, who both closed with pars despite difficult rounds.
World No.2 Jeeno Thitikul, American Lucy Li and Germany's Esther Henseleit are also three shots off the lead.
Li recorded one of the rounds of the day with a two-under 69, while Thitikul stayed firmly in contention after parring every hole on the back nine in a one-over 72.
Ryu, the overnight leader, endured a dramatic reversal. The South Korean briefly stretched her advantage to five shots after reaching nine under early in her round, but six bogeys saw her slump to a three-over 74 and fall back into the chasing pack.
England's Lottie Woad remained firmly in the hunt after a third-round 70 left the amateur at three under overall, four shots behind Noh. Charley Hull, Minami Katsu, Chanettee Wannasaen and Ayaka Furue were another shot back at two under.
Hull also kept her hopes alive with a level-par round. Roared on by the home crowd, the Englishwoman produced a superb approach to the final green before settling for a closing par and a share of eighth place.
Noh's surge contrasted sharply with a frustrating finish for former No.1 Nelly Korda.
The American birdied the 17th to climb the leaderboard before a wayward tee shot on the final hole led to a costly double-bogey six. Korda ended the day tied for 17th on even par, seven strokes behind the leader.
With Noh holding a three-shot cushion but five players within striking distance, the championship is poised for a compelling final-round battle on Sunday.
