The Leicester cueman won five of the first six frames but was ultimately made to work hard for a 10-8 victory over Wilson, who had drawn level at 8-8.
It was a tense affair throughout, with 18 frames passing without a century - although 15 of them included a half-century as Selby gained a confidence-boosting success.
"Kyren just wouldn’t lie down, even when I went 8-5 up," said Selby, who beat Mark Williams in the final of this event last year.
"He potted some great long balls and really put me under it. I was really happy with the way I won the last two frames. I was still confident at 8-8 because it wasn’t as if I had missed many chances."
Next for Selby is a clash with Barry Hawkins in Sunday's final, after the Kent potter beat Neil Robertson 10-6.
Sky Bet make Selby their 1/2 favourite, with Hawkins on offer at 6/4.
Hawkins registered breaks of 124 and 101 in a high-quality affair, eventually putting his fellow left-hander to bed by taking frames 15 and 16.
Hawkins, runner-up at the Welsh Open last month, is into his seventh career ranking final and first in China.
"The match was a high standard throughout, neither of us missed many balls," said the 38-year-old.
"I’m delighted to beat Neil because he is a top-class player and he was playing well.
"After a poor start to the season, to have two finals in the last two big tournaments I have played is unbelievable. It has turned my season around and given me a lift going into the World Championship.
"It’s great to have this run in such a huge event. If I win the tournament it will be my biggest ever payday and that’s a massive incentive."
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