The former world number one claimed a 3-6 6-2 6-3 victory over her German opponent to snatch a place in the quarter-finals in Melbourne.
"[There were] a lot of ups and downs today and fortunately I finished on a high note," said Sharapova. "It was really tough, [Lisicki's] such a good opponent playing with such confidence.
"Big serve, big game so I really had to be ready. Even though I didn't play my best tennis today, I fought until the end and sometimes that's what gets you through."
The Russian pro will have to overcome Ekaterina Makarova in order to reach the semi-finals.