The 25-year-old Indian, who clinched the Indonesia Open and Australian Open this year besides reaching the final of the Singapore Open, defeated Wong 21-18 21-17 at the Odense Sports Park here.
A 2-2 head-to-head record in career meetings - all of which had gone to the decider - meant nothing as Srikanth towered over Wong, showing better control and anticipation in the 39-minute semifinal duel.
Srikanth and Wong split the initial six points before the Indian moved ahead with his rival struggling with the length of his shots. He eventually had a healthy 11-6 lead after dominating a net exchange.
Wong made it 10-13 after the interval but Srikanth showed better anticipation to lead 15-10. A body smash helped Wong to make it 12-15 and then 15-18 but Srikanth didn't lose his patience and managed to control the rallies.
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In the second game, Srikanth zoomed to a 4-0 lead but a few unforced errors at the net helped Wong to make it 3-4 in his favaour. He then unleashed a smash to claw back. The Indian again surged to 7-5 lead when Wong served out.
Srikanth, who won the China Open Super Series Premier in 2014, showed great athleticism when he dived and then smashed to grab a point to make it 8-6. However, Wong managed to surpass the Indian and pocket a 11-9 lead at the break.
A jump cross court smash took Srikanth to 16-15 and he then capitalised on it, extending the advantage to 18-15. A net error from Wong gave him another point but the Indian hit wide. He then pushed the shuttle to the back to grab three match points and converted it after winning a long rally.
Earlier, 37-year-old Lee Hyun Il of Korea, who plays as a professional, seemed to have turned back the clock as he conquered his younger compatriot and World No. 2 Son Wan Ho 25-23 18-21 21-17 in the other men's singles semifinal that lasted an hour and 31 minutes.
She had lost to Tai Tzu at the final of All England Championship, second round of Australian Open and Dubai World Super Series Final last year.
Ratchanok will face Akane Yamaguchi, who defeated World No. 10 Chen Yufei of China 10-21 21-18 21-19.
Mixed doubles pair of Tang Chun Man and Tse Ying Suet of Hong Kong also reached their maiden final with a 21-16 21-18 win over third seeded Indonesian combo of Tontowi Ahmad and Liliyana Natsir.