Hurricane Milton upgraded to Cat. 3 storm as it rapidly intensifies, heads toward FL | LIVE RADAR

Hurricane Milton is intensifying in the Gulf of Mexico. It has quickly upgraded to a Category 3 storm, according to updates from the National Hurricane Center.

The maximum sustained winds are estimated to be 120 mph as of 7 a.m. ET on Monday.

Late Monday night, Milton is forecast to reach Category 4 status and stay at that strength through Tuesday before weakening slightly on Wednesday before it makes landfall as a Category 3, per the NHC.

Florida Gov. Ron DeSantis said Milton is currently forecast to make landfall in the Madeira Beach area of Pinellas County around 5 p.m. on Wednesday, adding that the forecast path of the storm could change over the next few days.

Milton has been rapidly intensifying on Sunday and is forecast to continue strengthening on Monday.

The storm is sitting over an area of the Gulf that is ripe for intensification with tranquil wind shear and water temperatures of 85 to 88 degrees, giving the storm all the ingredients it needs to potentially become a beast.

The governor said Milton is expected to be a "major hurricane when it makes landfall." He predicted that the storm surge could be more devastating than what occurred when Helene made landfall as a Category 4 hurricane on Sept. 27 in the Big Bend area of north Florida. Helene swept through Georgia, South Carolina, North Carolina, Virginia and Tennessee, and killed more than 230 people.

RELATED: FEMA doesn't have enough funding to last through hurricane season, Mayorkas warns

Kevin Guthrie, executive director of the Florida Division of Emergency Management, said Sunday that the state is preparing for what could be the largest evacuation since 2017's Hurricane Irma.

Guthrie said state officials have been tracking and preparing for Milton for the last 14 days.

On Saturday, DeSantis declared a state of emergency for 35 counties along Florida's west coast in advance of the storm. He raised that number to 51 on Sunday evening.

The governor encouraged residents to start preparing now for Milton by replenishing their supplies of gas and non-perishable food depleted during Hurricane Helene.

DeSantis said crews, including 800 members of the state National Guard, are working to clear tons of debris left by Helene. He said he ordered landfills to remain open 24 hours a day to expedite the cleanup in advance of Milton's arrival.

DeSantis said an additional 4,000 National Guard members will be deployed to clear debris once Milton hits.

Six hundred ambulances are ready to assist, he said Sunday. Additionally, DeSantis said all Florida assets that had been assisting in North Carolina and Tennessee are back and ready to go in the state of Florida.

The White House said President Joe Biden was briefed on Milton on Sunday morning.

RELATED: How to help those impacted by Hurricane Helene: Charities, organizations to support relief efforts

"The president was briefed on its potential impacts to the Florida Gulf Coast, and the work FEMA is doing to preposition lifesaving resources in advance of the storm," the White House said.

The NHC is urging residents along the west coast of Florida to have a hurricane plan and stay updated on the forecast as it evolves.

A separate system is already saturating Florida with 2 to 5 inches of rain this weekend, so by the time Milton reaches Florida, the flood threat will be increased substantially.

Five-day rain totals could reach 10 inches or more in Florida by the time Milton leaves the state.

Storm surge and wind damage could also be dangerous along Florida's west coast.

ABC News' Darren Reynolds and Jolie Lash contributed to this report.