The 27-year-old Bangalore cueist fired four half century breaks and a century run on way to a 48-69 59-19 65-22 87-58 87-29 85-8 119-0 61-9 win in a one-sided semi final.
Advani, of Petroleum Sports Promotion Board, would meet either world No. 21 Stephen Lee, the title favourite, or his English compatriot and world No. 26 Michael Holt in the final tomorrow at the Khar Gymkhana.
Giant-killer Parikh, who shocked Asian champion Aditya Mehta 5-4 in the quarter-final yesterday, began well by winning the opening frame in which Advani struck a break of 42.
Parikh was left stranded as Advani dominated the remainder of the best-of-13 frames encounter. The 119 clearance - the highest break in the tournament so far - in the seventh frame emphasised the Indian professional's class.
"Siddharth has been playing well right through the competition and is the giant-killer of the tournament after he beat Aditya (Mehta). So, I never expected to win so comfortably," he said after the victory.
"Pankaj was just too good for me today," conceded Railways cueist Parikh.
This morning, Holt overcame Shahbaaz Khan of PSPB 5-2 in the last best-of-nine frames quarter-final.
Results: Semi-finals: Pankaj Advani (PSPB) bt Siddharth Parikh (Rlys) 48(42)-69 59(44)-19 65-22 87(56)-58 87(51)-29 85(54)-8 119(119)-0, 61(54)-9.
Quarter-finals: Michael Holt (England) bt Shahbaaz Khan (PSPB) 67-41, 53-33, 53-68, 69(69)-1, 44-58, 74(57)-1, 77-15.
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