The Moscow-born Rybakina, who represents Kazakhstan, had struggled with indifferent form after beating Ons Jabeur last summer for her first Grand Slam title.
Belarusian Azarenka had been bidding for a third Australian Open title and a first in 10 years but was on the back foot after being broken in the opening set.
She broke back to force a tiebreak, which Rybakina dominated, so too the second set although she briefly stuttered when serving for the match.
She conceded that particular service game but broke back immediately to ensure a first-time winner of the Australian Open come Saturday’s final.
Australian Open 2023 – In pictures
Meanwhile, Britain’s Alfie Hewitt is on for a double having reached the finals of the wheelchair singles and doubles at the event.
The world’s no1 player enjoyed a comfortable 6-1, 6-1 victory over Japan’s Takuya Miki to reach his third straight final at Melbourne Park, where he is bidding for his first title. He will face another Japanese player in 16-year-old Tokito Oda in the final.
Following his singles success, Hewitt then booked his place in the doubles final with playing partner Gordon Reid following a 6-4, 6-4 win against Daisuke Arai and Takashi Sanada. He and Reid have won the past three doubles titles at the Australian Open.
