The Swedes, ranked third in the world, were awarded a penalty in the 28th minute after a VAR review showed Australia’s Clare Hunt clipped Stina Blackstenius’ heels, and Fridolina Rolfo slotted home the resulting spot kick.
Sweden captain Kosovare Asllani doubled their lead just after the hour mark, rifling a sweet strike from the edge of the penalty area beyond goalkeeper Mackenzie Arnold following another quick counter-attack.
While disappointed to sign off at the World Cup with another defeat, the Matildas still achieved their best result at the tournament having never previously gone beyond the quarter-final stage.
England and Spain will square off in the final showdown today.