Meanwhile, Italian Vincenzo Nibali took over the race leader's red jersey from American Chris Horner.
RadioShack Leopard rider Cancellara paced himself during the early uphill section of the 38.8-kilometres route and then powered to the finish line south of Tarazona in 51:00 minutes - 37 seconds ahead of Martin (Omega Pharma-Quick Step).
Nibali (Astana Pro Team) was fourth in 52:25, which lifted him to the top of the general classification as Horner (RadioShack Leopard) finished the stage way back in 20th position (53:54).
Ireland's Nicolas Roche and Spain's Alejandro Valverde produced strong rides to strengthened their overall prospects.
Roche (Team Saxo-Tinkoff) finished sixth to move up to second overall - 33 seconds behind Nibali - with Valverde (Movistar Team) claiming seventh spot to climb to third in the GC, a further 13 seconds back.