The German is the first lucky loser to reach the final of a Masters 1000 event.
Osaka will play Jennifer Brady for the title.
Grigor Dimitrov is the latest player to be hit by injury in Melbourne
Djokovic has never failed to win the tournament after making the semi-finals and he will be heavily favoured to claim a record-extending ninth title at his favourite Slam on Sunday.
Top-ranked Iga Swiatek cruised past Veronika Kudermetova in the semi-final of the Madrid Open to set up a second straight final showdown with world number two Aryna Sabalenka.
Sweden and Novak Djokovic's Serbia took the two best runners-up spots and a place in the last eight by virtue of their better match win-loss records among the second placed sides throughout the group stages.
Raducanu retires in Rome as back injury persists, Jabeur survives early scare
Novak Djokovic enjoyed success at his own tennis centre when he won the Belgrade Open with a 6-4, 6-3 win over Slovakian Alex Molcan in Saturday's final.
Former world number one Andy Murray's quest for a first ATP title in over two years ended in defeat at the hands of top seed Aslan Karatsev at the Sydney Tennis Classic on Saturday, with the Russian easing his way to a 6-3, 6-3 win.
Novak Djokovic has pulled out of the Serbia team for the ATP Cup in Sydney, event organisers said on Wednesday, raising further doubts over whether the world number one will defend his Australian Open title next month.
Brady was sidelined by knee and foot injuries since the summer of 2021
Images from Day 4 of the 2023 Wimbledon Championships.
Fourth seed Medvedev had won all his previous matches against Rublev in straight sets and it was no different at a scorching Rod Laver Arena on Wednesday.
On Thursday, Bhambri will look to secure a berth in the singles quarter-finals as takes on eight-seed Stefano Travaglia in a second-round match.
Novak Djokovic was unexpectedly beaten by fifth-ranked Alexander Zverev, quashing his hopes of winning an Olympic singles gold medal, the only major honour missing from his long list of accolades.
Norrie's semi-final opponent will be another American, fourth-seeded Tommy Paul, who crushed Stefan Kozlov 6-3, 6-1 in an all-US matchup.
Another Indian pair of N Sriram Balaji and Vishnu Vardhan will also be seen in the semi-finals after their opponents, Gianluca Mager and Emil Ruusuvuori withdrew from the last-eight match due to an injury to the former.
Images from Tuesday's action at the Australian Open.
IMAGES from Day 5 of the French Open at Roland Garros in Paris on Thursday.
Favourites Russia Tennis Federation opened their Davis Cup Finals campaign with a resounding victory over Ecuador, Britain began with a win against France and Italy eased into the quarter-finals with a win over Colombia on Saturday.
Rafael Nadal shrugged off his derailed bid for the Grand Slam record with a pledge to keep "fighting" but the Spaniard leaves the Australian Open with familiar regrets after bowing out to a rising talent on Wednesday.
Daniil Medvedev fired Russia to victory in the $7.5 million ATP Cup with a dominant performance against Italy in Melbourne on Sunday.
IMAGES from Day 5 of the US Open, at the USTA Billie Jean King National Tennis Center, Flushing Meadows, New York, on Friday.
Images from Sunday's action at the Australian Open.
IMAGES from the Australian Open matches played on Wednesday.
After his match, Majchrzak revealed that he developed the habit of playing drop shots in his early tennis days.
The world number one had arrived in Tokyo aiming to become the first man to win all four majors and an Olympic gold medal in the same calendar year. But that quest came to an end after he was beaten by fifth-ranked German Alexander Zverev in Friday's semi-final.
A very different Australian Open comes to a familiar end on Sunday as Novak Djokovic looks to thwart another challenge to his Melbourne Park dynasty from the latest Grand Slam aspirant in Daniil Medvedev.
Shapovalov will meet Rafael Nadal for a place in the semi-finals.
Images from Day 6 of the 2021 US Open in New York on Saturday.
Images from Monday's action at the Australian Open.
Images from Saturday's action at the Australian Open.