Square Form Factoring is an O(N1/4) factoring algorithm developed by D. Shanks using certain properties of quadratic forms. Central to the original algorithm is an iterative search for a square form. We propose a new subexponential-time algorithm called SQUFOF2, based on ideas of D. Shanks and R. de Vogelaire, which replaces the iterative search with a sieve, similar to the Quadratic Sieve.