The fifth-seeded Sharapova was back in a major final for the first time since her loss to Serena Williams in last year's Australian Open.
The 20-year-old Russian star was aggressive from the start. She controlled the important points against a Serbian player for the second consecutive match.
Sharapova beat third-seed Jelena Jankovic in the semifinals after ending top-ranked Justine Henin's 32-match winning streak in the quarterfinals.
Ivanovic is 0-and-2 in Grand Slam finals.
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