Chance Wheeless hit a game-winning solo home run in the bottom of the ninth inning to lead Texas over Baylor, 4-3, and send the Longhorns into the College World Series championship for the third time in four years.
Texas will face either Arizona State or Florida in the best-of-three championship series which begins Saturday, depending on the outcome of a game between those schools Thursday.
Earlier on Wednesday, Erik Averill tossed a complete-game five-hitter to lead ASU past the Gators, 6-1, and set up an elimination game at Rosenblatt Stadium.
Wheeless' game-winning shot was the second homer of the night for the Longhorns (54-16), who have yet to lose a game in the World Series.
Taylor Teagarden homered in the fifth inning to give Texas a 2-1 lead after Baylor had tied the game on Josh Ford's solo shot in the fourth off 6-foot-10 starter Kenn Kasparek.
The Bears (46-24) went ahead 3-2 with a pair of runs in the seventh inning, but Texas scored a single run in the eighth to tie it.
Ryan Lamotta (5-2) surrendered Wheeless' homer to take the loss, while J. Brent Cox (8-3) got the win for Texas.
Earlier in the day, Colin Curtis finished 3-for-3 with an RBI and J.J. Sferra knocked in two runs for Arizona State (42-24), which won for the fifth time when facing elimination in the NCAA Tournament.
Sferra had the winning hit for the Sun Devils against Nebraska on Tuesday, as they knocked out the local favorite Cornhuskers with an 8-7 victory in 11 innings.
After losing their CWS opener to Nebraska, the Sun Devils eliminated Tennessee on Sunday before knocking out the Cornhuskers. ASU also lost the opener of the its Super Regional before defeating defending champion Cal State-Fullerton twice.
Florida (47-21), meanwhile, was playing its first game since Sunday and suffered its first loss of the NCAA Tournament. Brian Leclerc had two hits in the setback
The Sun Devils opened the scoring in the first on Travis Buck's solo homer. ASU added another run in the fourth before the Gators cracked the scoreboard in the fifth when Jared Kubin's single through the left side scored Gavin Dickey.
Arizona State got the run right back, though, on Curtis' RBI single in the sixth. The Sun Devils then put the game out of reach with a pair of runs in the seventh before scoring the final run in the eighth.