Goodbyepublished at 02:30
What a thoroughly enjoyable match. Well worth staying up for! Chile have yet to win a major international tournament but is that about to change? Thanks for your company.
Hosts Chile have never won Copa America before
Ex-QPR striker Vargas scores brilliant second
Gary Medel pokes cross into own net
Winners will play Argentina or Paraguay in final
Neil Johnston
What a thoroughly enjoyable match. Well worth staying up for! Chile have yet to win a major international tournament but is that about to change? Thanks for your company.
Chile 2-1 Peru
Who will Chile meet in the final at the weekend?
The second semi-final between Argentina and Paraguay is on Wednesday (00:30 BST).
Full live text commentary on the BBC Sport website.
Chile 2-1 Peru
Let's not forget Peru.
They played their part in a breathtaking match full of incident, magical moments and controversy.
While Chile can start planning for the final, Peru can take plenty of positives as they prepare for World Cup qualifying which begins in October.
Chile 2-1 Peru
Terrific celebrations inside Estadio Nacional.
Chile are in the Copa America final for the first time since 1987 - 90 minutes away from a first major tournament win.
Chile 2-1 Peru
Chile 2-1 Peru
Chile 2-1 Peru
One minute left. It's now or never for Peru.
Chile 2-1 Peru
Chance for Arturo Vidal to seal it but his fiercely struck effort crashes off the frame of Peru's keeper.
Chile 2-1 Peru
This has been a cracking advert for Copa America.
A game peppered with sublime moments, controversy and terrific committed football by both teams.
Three minutes of stoppage time. Chile are 180 seconds from the final.
Chile 2-1 Peru
Three minutes remaining. Whistles from the home fans have started already. They want the referee to blow his whistle.
Chile 2-1 Peru
Paolo Guerrero runs into the Chile penalty area before ending up in a heap after tangling with Jose Rojas.
The Peru forward wants a penalty. The referee says no. Guerrero reacts by thumping the grass in frustration.
Chile 2-1 Peru
Peru are still showing signs of fight, still showing how to play with 10 men.
Whatever happens, this has been a fine effort by the team ranked 61st in the world.
Chile 2-1 Peru
So close to 3-1 as Alexis Sanchez fires over from an angle inside the area.
Peru's defence is under serious pressure.
Ten minutes remaining.
Image source, Getty ImagesChile 2-1 Peru
The party has already started in Santiago.
Chile are so close to their first Copa America final for 28 years.
And here they come again...
Chile 2-1 Peru
Last throw of the dice by Peru boss Ricardo Gareca.
Forward Andree Carrillo departs and striker Claudio Pizarro is on, while midfielder Carlos Lobaton is off for Yoshimar Totun.
Fifteen minutes remaining.
Chile 2-1 Peru
Chile are not sitting back.
They want a third goal to kill the tie off once and for all.
There's time left for battling Peru to get themselves back into this but there are a lot of tired legs out there.
Chile 2-1 Peru
Peru have just over 20 minutes to get back into this.
Remember, there is no extra time if the scores are level after 90 minutes.
Should Peru level, it will go straight to penalties.
Right now, you wouldn't rule it out.
Chile 2-1 Peru
What a match!
Chile are back in front thanks to an absolutely stunning 30-yard dipping strike by Eduardo Vargas.
There's a party inside Estadio Nacional. Brilliant game.
Image source, ReutersChile 1-1 Peru

Paddington. Loves marmalade sandwiches and Peruvian equalisers...