Malaysia kept alive the Asian challenge after three-time Olympic champions Pakistan faltered in their last chance to stay in contention for a ticket to Rio de Janeiro in 2016.
Behind India, who have already qualified for the Olympics by virtue of winning the men's Asian Games gold medal, Malaysia are the only Asian team still in fray.
South Korea, silver medallists at the 2000 Olympics, have also failed to secure a place in the Olympic lineup. The Korean men finished seventh in the other World League Semifinals.
Malaysia will take on Ireland in the playoff for the fifth spot on Sunday. The Irish clinched a 1-0 victory over Pakistan today.
Pakistan will meet France in the playoff for the seventh position in this tournament.
France opened the scoring against Malaysia in the 17th minute through a fine deflection by Jean-Laurent Kieffer, but Malaysia equalised within a minute when Muhammad Shamsul scored a cracker.
Faisal Saari sent a rising drag flick into the net in the 47th minute to bolster the Malaysian score before captain Razie Rahim made no mistake in flicking in a penalty stroke just three minutes from the hooter.
