Gallants will meet Pirates in the decider, to be played at the Peter Mokaba Stadium in Polokwane on December 6, when the second piece of knockout silverware of the season will be handed out. Pirates have already lifted the MTN8 title.
Gallants have never lifted the trophy before, while Pirates’ only triumph from nine previous appearances in the final came in 2011, when they defeated BidVest Wits.
After a goalless first half, the semi-final clash sprang to life as Arrows took the lead through Isaac Cisse’s header from a corner.
Ndabayithethwa Ndlondlo, a former Pirates player who returned to Gallants this season, equalised with a low shot from the edge of the box that found the bottom corner.
Sekela Sithole then produced a superb long-range effort from 40 yards that floated into the net over the goalkeeper to make it 2-1 to Gallants, the third goal scored in five second-half minutes.
There was more drama to come, though, as Nqobeko Dlamini levelled the scores at 2-2 for Golden Arrows.
The tie went to penalties, where 40-year-old Gallants goalkeeper Washington Arubi proved the hero once again, just as he had in the previous round against Mamelodi Sundowns.
He saved two spot-kicks to send Gallants into the final, where they will be heavy underdogs against a Pirates side packed with quality but who have struggled to win this particular trophy in the past.
Gallants will be hoping to become the 12th different winner of the Carling Knockout in the last 13 editions.