Australian and French Open champion Williams moved ever closer to the calendar grand slam by storming past Sharapova 6-2 6-4 - some 11 years after losing to her biggest foe in tennis in the final at SW19.
Coach Patrick Mouratoglou insisted in advance that Williams' dominance means there "is not really a rivalry" - and the world number one vindicated that claim to book a showdown with Spain's Garbine Muguruza.
Williams will hold all four major titles at the same time to claim a second "Serena slam" with victory on Saturday.
The 33-year-old still needs this year's Wimbledon and US Open crowns for that elusive calendar slam: and has banned all such talk.
Williams did however concede after thrashing Sharapova: "At least I made it to the final of four (grand slams), so that's pretty good."
Sharapova expected to dominate the tennis world after beating Williams twice in 2004, to both the Wimbledon crown and WTA Tour Championships title.
Williams pulled out two aces to hold serve, before breaking Sharapova again with ease and then seeing out the set.
Williams bullied Sharapova to claim a commanding one-set lead in a one-sided opening to their Wimbledon semi-final.
The 20-time grand slam champion looked completely un-flustered in storming to the first set 6-2 in little over half an hour.Every time Sharapova fought to raise her level, Williams stepped up another notch.
The Russian fourth seed improved in the second set but was still no match for the 33-year-old.