The 27-year-old finished ahead of her only rival for the crown, Swiss racer Lara Gut-Behrami, in the women's downhill at Kvitfjell.
Shiffrin has dominated the season posting 14 podium finishes, including 11 victories, in 25 races.
Her tally of five overall titles equals Luxembourg's Marc Girardelli. Just two Austrians, Annemarie Moeser-Proll, who won six overall titles, and eight-time winner Marcel Hirscher are ahead of her.
Shiffrin could round the weekend off by equalling Swedish ski icon Ingemar Stenmark's World Cup record of 86 victories.
She races in the super-G on Sunday before heading to Stenmark's homeland to compete in the giant slalom and slalom next weekend in Are.
Shiffrin will be presented with the Crystal Globe at the World Cup finals in Andorra on March 19.
