She clocked 3:32.170 to advance to the gold medal ride-off of the women's Individual C5 Pursuit.
The seven-time Paralympic Games champion is set to meet Anna Harkowska of Poland, who qualified in 3:48.885, in the final.
Storey's compatriot Crystal Lane (3:59.220) will ride off against Fiona Southorn of New Zealand (3:52.695) in the race for third place.
There were two world records in qualifying for the women's Individual C1-2-3 Pursuit.
Zeng Sini of China, a C2 rider, clocked 4:19.841 to book a meeting with Simone Kennedy of Australia (4:23.450) in the race for gold.
Germany's Denise Schindler (4:24.589) is poised to face Allison Jones of the United States (4:28.504) in the battle for bronze.
Australia's Jayme Paris set a world record of 4:40.123 but after the mixed-classification event was factored, the C1 rider did not advance to the medal rounds.
There was a second Australian world record in the women's Individual C4 Pursuit, with Susan Powell qualifying quickest in 4:03.306.
Powell is set to meet USA's Megan Fisher (4:06.599) in the final, with Alexandra Green of Australia (4:07.152) and Canada's Marie-Claude Molnar (4:11.678) vying for bronze.
In the final event of the morning session, the men's Individual B Pursuit saw two Australian tandem pairings advancing to the race for gold.
Kieran Modra and Scott McPhee finished in 4:18.752 and are set to meet Bryce Lindores and Sean Finning (4:21.219) in the final.
The battle for bronze will be between Spain's Miguel Angel Clemente and Diego Munoz (4:24.539) and Ireland's James Brown and Damien Shaw (4:25.557).