Li dominated against teenager Eugenie Bouchard, racing into a 5-0 lead in 14 minutes before winning 6-2 6-4 to progress to her third Melbourne final.
Cibulkova produced a stirring display to shock fifth seed Agnieszka Radwanska and reach her first Grand Slam final Speed Dating
The Slovakian broke in the opening game and was in complete control throughout.
Li (Chn)  beat Bouchard (Can)  6-2 6-4
Fourth seed dermes
Li remains on course for a second Grand Slam title and a first Australian Open victory as her experience told against Canadian Bouchard, who had never previously been beyond the third round of a major .
China's Li, who reached the final in Melbourne in 2011 and 2013, came back from match point down in her third-round tie dermes
against Lucie Safarova and has not looked back since.
She began superbly on this occasion and threatened to blow her opponent away, but Bouchard stopped the first-set rot when she broke at 5-0 down, recovering to trail 5-2 before Li held serve to take the advantage.