The Finn clocked a best lap of one minute and 4.251 seconds to outpace championship leader Sebastian Vettel of Ferrari by four hundredths of a second.
Briton Lewis Hamilton, who trails Vettel by 14 points in the title race, was third fastest in the second Mercedes, but will start the race from eighth on the grid due to a five-place penalty for an unscheduled gearbox change.
The session ended in some disarray when Frenchman Romain Grosjean stopped his Haas out on the track to bring out a series of yellow flags that prevented any final fast laps.
Vettel said: "I was hoping for the last run, but then it was a bit of an anti-climax with the yellow flags."
Hamilton said he was happy enough with third: "Of course, I would have loved to improve my lap, but it just wasn't meant to be today."
When asked after the session to shake hands, Hamilton and Vettel turned and walked away - having done so earlier without television cameras.
Finn Kimi Raikkonen, the 2007 world champion, will start from third in the second Ferrari ahead of Australian Daniel Ricciardo and his Red Bull team-mate Max Verstappen, backed by a crowd including 10,000 Dutch fans at the Red Bull Ring.
Grosjean was seventh ahead of Mexican Sergio Perez and his Force India team-mate Esteban Ocon, with Spaniard Carlos Sainz 10th for Toro Rosso.
===========================
The session began in balmy, but cloudy, conditions with a track temperature of 45 degrees, as Hamilton soon stamped his speed and authority on proceedings.
Eight minutes in, he clocked 1:05.238, three-tenths clear of Vettel.
Hamilton improved his time to 1:05.064, when Dane Kevin Magnussen had what appeared to be a suspension failure at turn three and drove his Haas gingerly back to the pits.
The first session ended with Hamilton on top ahead of Raikkonen and Vettel, with Bottas pushed back to fifth by a flying Sainz.
Out went Briton Jolyon Palmer of Renault, Brazilian Felipe Massa and his Williams team-mate Lance Stroll, Swede Marcus Ericsson and his Sauber team-mate Pascal Wehrlein.
Hamilton was out immediately for second qualifying on super-softs, a switch that signalled he may intend to run a long first stint in Sunday's race. His first lap was 1:04.800, trimmed by Bottas in 1:04.640 as the Mercedes topped the pile.
Vettel, on ultra-softs, grabbed second in the closing minutes as Hamilton warmed up a set of super-softs for his race starts, with the top three separated by only 0.160sec.
German Nico Hulkenberg of Renault, two-time champion Fernando Alonso and his McLaren team-mate Stoffel Vandoorne, Russian Daniil Kvyat of Toro Rosso and the luckless Magnussen, who did not run, were the five to bow out.
He went top, only to be supplanted by Ricciardo and Hamilton, the only driver who will start the race on super- softs, before Bottas took control in 1:04.251.
Vettel then slotted into second again, and Grosjean's car failure ensured that Bottas took pole and his team-mate was to start eighth.
Disclaimer: No Business Standard Journalist was involved in creation of this content
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