The 2022 champion will meet Barbora Krejcikova, who has never previously reached the last four at Wimbledon, but is a former Roland Garros champion.
The Czech also won in straight sets, but took 100 minutes to beat Latvian Jelena Ostapenko 6-4 7-6 (7-4) on No.1 Court.
Both matches were played under an open roof as the sun finally shone on Wimbledon.
Barbora Krejcikova acknowledges the crowd on No.1 Court after beating Jelena Ostapenko. (AP PHOTO)
Rybakina produced a fine display of explosive hitting coupled with a rock-solid serve to end Svitolina's hopes of a maiden grand slam triumph at the 42nd time of asking.
The fourth seed struck 28 winners and seven aces during a one-sided battle with Svitolina, who was out-of-sorts two days on from an emotional victory over Wang Xinyu, which occurred hours after a Russian missile struck a children's hospital in Kyiv.
Rybakina is Moscow-born but represents Kazakhstan. Svitolina again outlined on Monday she was fine with her opponent due to her switch in allegiances,
"Really pleased with the way I played today," Rybakina said.
"It is always tough to play against Elina, she is a great player and fighter. So, no matter the score, it was not as easy as it might have looked.
"I also don't like (being favourite) but definitely I have an aggressive style of play, a huge serve and it is a big advantage."
Ostapenko had blitzed her way through the women's draw, dropping only 15 games in four matches with a ferocious flurry of winners.
But when the unforced errors started to creep well above the winner count Krejcikova was able to take advantage.
A blink-and-you-miss-it encounter did not feature a rally of more than eight shots, but Krejcikova made hers count.
In the tie-break Krejcikova served beautifully before taking the first of three match points to cap a composed display and a well-deserved victory.
The 28-year-old won the 2021 French Open but had not otherwise reached a grand slam semi-final.
"I don't have the words right now," she said. "I was so much into the game I told myself I'm going to give it everything I have and I'm really happy that I did. It's an unbelievable moment for me."
The other women's semi-final features seventh-seed Jasmine Paolini against unseeded Donna Vekic.
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