A Team Sky member, Wiggins leads defending champion Cadel Evans of Australia by 10 seconds with the finish in Paris still 15 days away.
Fellow Team Sky member Chris Froome powered through the final climb to win the seventh stage and take the polka-dot jersey as the Tour's best climber. Evans and Wiggins finished just two seconds behind Froome, taking second and third place respectively.
The 32-year-old Wiggins has looked poised so far in leading Team Sky, while Evans has struggled to repeat his success from last year's race.
Despite turning pro in road cycling in 2002, Wiggins was a track cycling specialist for much of his early career.
Wiggins has won medals in each of the last three Summer Olympics, including earning two gold medals in the Beijing 2008 Summer Olympics.
While Wiggins still has high expectations for the British team in the London 2012 Summer Olympics, he has been focusing on his road cycling more heavily in recent years.
Team Sky was poised to be serious contenders in the 2011 Tour de France with Wiggins leading the pack.
Unfortunately for the group last year, Wiggins crashed out of the Tour de France after breaking his collarbone.
Entering the 2012 competition, Wiggins and Team Sky were considered the favorites along with Evans' BMC team.
In an ESPN.com article after the seventh stage, Wiggins acknowledged the long road he still has until the Paris finish and how lucky he is just to be racing.
You can't get too cocky in this race and choose when you take the yellow jersey. I'd much rather be in yellow than in hospital, like half the peloton.
There were numerous crashes during the sixth stage on Friday that resulted in 12 quitting the Tour de France altogether.
Another stage in the mountains awaits the riders on Sunday, followed by a time trial on Monday.
With Team Sky in a good position after their seventh stage victory, Bradley Wiggins has become the favorite to win the 2012 Tour de France.