The 2022 Wimbledon champion will face Ekaterina Alexandrova in the final on Sunday, after the Russian fourth seed beat compatriot Diana Shnaider 6-3, 6-4 in the second semi-final.
Despite the loss, the WTA later confirmed Paolini's run to the semi-final had earned her a spot in the WTA Finals alongside Aryna Sabalenka, Iga Swiatek, Coco Gauff, Amanda Anisimova, Jessica Pegula and Madison Keys.
Rybakina and Mirra Andreeva will battle it out for the final spot in the season-ending championship of the WTA Tour in Riyadh, Saudi Arabia, which runs from November 1st to 8th, with $15.5 million in total prize money up for grabs.
Rybakina broke second-seeded Paolini for a 5-3 lead in the opening set before comfortably sealing it.
The pair were locked at 2-2 in the second, but Rybakina shifted gears, breaking serve to lead 3-2 and claiming the next three games to wrap up the match in one hour and 29 minutes, during which the 26-year-old fired 10 aces and 30 winners.
"I knew the match would be very tough," Rybakina said after reaching her second final of the year.
"Jasmine played really well this season. She's a really tough opponent. I knew I'd need to bring my best. I'm happy I stayed focused until the end and I won it in straight sets.
"I'm very excited. I'll try to bring my best (in the final). Let's see what's going to happen."
