While Hege Riise's side advanced to the last eight through topping Group E, Australia qualified after finishing as one of the best third-placed teams.
Despite Great Britain's progression into the knockout stages being nothing more than efficient, head coach Riise will be delighted with her side's opening three matches.
Goals from Ellen White made the difference against Chile and Japan, leaving Great Britain requiring just a point to finish ahead of Canada.
A much-changed side made hard work of the concluding game in Group E, eventually securing a 1-1 draw courtesy of Caroline Weir's deflected equaliser six minutes from time.
Nevertheless, it provided a close-knit group with another opportunity to show the character which will be required to earn a medal next week.
Having been provided with a much tougher group than Great Britain, Australia were aware that they may have to rely on qualification through finishing outside of the top two in Group G.
Edging out New Zealand in their opening fixture was always going to prove crucial, and it effectively left the Matildas requiring a point from their final two games.
Although Australia conceded three second-half goals in losing 4-2 against Sweden, a goalless draw versus the United States ultimately got them over the line.
Tony Gustavsson will be optimistic that their previous experiences in this tournament can only stand them in good stead ahead of a meeting with opponents ranked three places above them in the world rankings.
With the United States and the Netherlands now in the opposite side of the draw, he will stress to his squad that this is the nation's best chance to finally end their wait to qualify for the last four of a major tournament.
Riise is expected to revert back to the team which started Great Britain's 1-0 win over Japan last weekend.
Fran Kirby is likely to remain on the substitutes' bench after making her first outing of the tournament against Canada.
Barring any late fitness issues, Gustavsson could stick with the starting XI from the meeting with USA.
Chelsea's Sam Kerr has netted three of Australia's four goals in this tournament, taking her tally to 45 strikes from 96 appearances for her country.
Great Britain Women possible starting lineup:
Roebuck; Bronze, Houghton, Williamson, Stokes; Walsh, Ingle; Parris, Little, Hemp; White
Australia Women possible starting lineup:
Micah; Polkinghorne, Carpenter, Kennedy; Logarzo, Catley, Van Egmond, Yallop; Kerr, Fowler, Simon
We say: Great Britain Women 2-1 Australia Women
Despite their differing fortunes during the group stages, everything points to a competitive encounter occurring in Kashima.
Nevertheless, we still expect Great Britain to edge this contest, potentially by the odd goal in three.