Makarova also reached the quarter-final in Melbourne last year before losing out to Sharapova.
However, the 24-year-old is confident of producing a better performance this time around.
"It's an unbelievable feeling," said Makarova. "I really like to play here, everything is so perfect. My team did a really nice job.
"Last year I was so surprised [to reach the quarter-finals] and had so may thoughts on my mind. This year, I'm a little bit used to it.
"I think I'll be ready to play a good game."
When asked about the prospect of a rematch with Sharapova, the Moscow native replied: "I think it will be really interesting and I really want to play against her."
Makarova has never been beyond the fourth round of any other Grand Slam.