Yup...
Get a big stew pot put some dish soap with degreaser in it and the hottest tap water you can get. Drop the ball in for 25-30 minutes, dry it off, and then wipe it down with rubbing alcohol. Do it a second time if the ball hasn't had the oil extracted in a long time.
In other words don't bake bowling balls, it's too easy to screw them up. The only safe way to "bake" is in a controlled environment like a rejuvenator.