The 31-year-old former Olympian secured an individual berth for the 2016 Rio-bound squad when he entered the recurve quarterfinals defeating sixth seed Antonio Fernandez of Spain 6-2.
India have also secured a team quota berth in the women's section from the ongoing World Archery Championships.
Champia however lost out on medal contention after bowing to Elias Malave of Venezuela 4-6 as the 2008 Beijing Olympian surrendered a 2-4 lead for an unfortunate last eight exit.
Champia lost the first and third set to trail 2-4 before making a glorious comeback aided by some luck en route to a 6 -4 win.
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Having shot two perfect 10s, the Spaniard misfired in the third end of fourth set for a poor one while Champia shot two 10s and one nine to make it 4-4.
Under pressure, Alvarino Garcia had another string of failures in the fifth set while Champia held on to the momentum and shot 10, 9, 9 to clinch the issue.
The 2014 Asian Games team gold medallist, Chauhan, thrahsed Camilo Cardona of Colombia 143-138 in a one-sided contest to set up a clash against local challenger Stephen Hansen in the final which will be held Saturday.