The Lionesses, one of the pre-Euros favourites, have never won the trophy but their performances have raised expectations they could win a major tournament for the first time.
England thrashed Norway 8-0 in the group stage and reached the last four after coming from behind to defeat Spain in extra time.
Sweden, second in the Fifa rankings behind the USA and therefore the top-ranked team at Euro 2022, scraped through to the semi-finals courtesy of an injury-time goal against Belgium.
The match takes place at Sheffield United's Bramall Lane (kick-off 20:00 BST) and is live across the BBC.
In a word, shocking.
England and Sweden have faced each other 26 times, but the Lionesses have won just three of those fixtures and beaten 15 times. Only against Germany (21) have they suffered more defeats.
The two sides have met seven times previously in the Euros, but England have triumphed on only one occasion.
That 1-0 victory came in the second leg of the inaugural final in 1984, but you can guess what happened from there - England were beaten on penalties.
That was the only time Sweden have lifted the trophy. They were beaten finalists in 1987 - when they were looking to defend the title - and again in 1995 and 2001.
Bramall Lane's 32,000-seater stadium is expected to be full for the match against Sweden, a reflection of how successful the tournament has been in England.
The cumulative attendance record for a Women's Euros was broken during the group stage, when there were still 15 games remaining.
A limited number of additional tickets were placed on sale for both semi-finals on Monday morning, but quickly snapped up.
Around 5,000 spectators are anticipated to attend the free fan park which has been set up in Trafalgar Square, London.
And millions more will watch live on BBC One, BBC iPlayer and the BBC Sport website.
England's dramatic 2-1 quarter-final win over Spain was watched by more than nine million across BBC One and the BBC's streaming service - and this encounter could top that figure.
Consistency is key or time to mix it up?
England are the only team to have named the same starting XI in their four games so far - and manager Sarina Wiegman will feel vindicated by the results.
However, she might feel inclined to make changes against the Swedes, who were silver medallists at the Olympic Games last summer and - like England - reached the last four of the 2019 World Cup.
Ellen White is one away from matching Wayne Rooney's all-time goalscoring record of 53 for England, but the Manchester City striker could make way for Alessia Russo.
The Manchester United forward has impressed off the bench by scoring three goals and provided the all-important assist for club team-mate Ella Toone's equaliser against Spain last time out.
Wiegman might have a call to make at full-back too, with Alex Greenwood also impressing as a substitute after Rachel Daly endured a difficult evening against Spain.
-- Courtesy of BBC Sport