Four-time champion Ronnie O'Sullivan will face Judd Trump in Sunday's UK Championship final in York.
O'Sullivan staged a superb comeback from 4-1 down to hit breaks of 62, 68 and 67 and level the contest.
Bingham made 53 to take frame nine, but a century from O'Sullivan and 94 in the decider put him through.
Trump, the 2011 champion, survived a scare to defeat Stephen Maguire 6-4 as he goes in search of his second UK crown.
He was in superb form ahead of the interval, winning all four frames, but Maguire managed to get himself on the scoreboard.
Bristol's Trump took the next with a century to go one away from victory, before the Scot pulled three frames back to keep the match alive.
Trump, however, kept his composure in the 11th frame to scrape through.
O'Sullivan and Trump faced each other in the final of the Champion of Champions event last month, where O'Sullivan emerged victorious, but it is the first time they have come head-to-head in a ranking event final.
Bingham, who defeated O'Sullivan at the quarter-final stage last season, dominated early on in their match, knocking in breaks of 66 and 73 to open a 3-1 lead at the interval, before his sublime century extended his advantage.
"If that was a boxing match, they would have stopped it early. I was way off the pace," O'Sullivan told BBC Sport. "Inspiration has got me through though. Stuart had some chances but he allowed me back into it and I found some momentum."
But 'The Rocket', who turned 39 on Friday, a day after his magnificent maximum 147 break against Matthew Selt, won five of the last six frames to progress.