Liverpool will take on Chelsea at Wembley in its 13th Carabao Cup final, though it will be its first appearance in the showpiece since 2016.
Jota squeezed in the opening goal in the 19th minute, bringing an end to a bright Arsenal start that saw Alexandre Lacazette hit the crossbar.
Liverpool had the tie wrapped up when VAR overturned an offside decision after Jota lifted in his second, with the Gunners' frustrations compounded by a 90th-minute dismissal for Thomas Partey.
Arsenal went close to taking the lead when Lacazette's free-kick was tipped onto the bar by Caoimhin Kelleher during an impressive opening quarter of an hour for the host.
However, Joel Matip had a goal ruled out for offside before a sweeping Liverpool attack ended with Jota scuffing an effort beyond Aaron Ramsdale from 18 yards against the run of play.
Lacazette spurned a great chance from Albert Sambi Lokonga's excellent pass four minutes after the restart.
Kaide Gordon wasted an opportunity to punish him when he blazed over and Konate – who replaced Matip at half-time – crashed a powerful header into the foot of the upright before the hour mark.
Arsenal controlled possession in the closing stages but Jota put the game to bed in the 77th minute, with the VAR deeming he had been played onside from Trent Alexander-Arnold's excellent pass by Gabriel Magalhaes.
Partey only arrived back from Africa Cup of Nations duty with Ghana on Friday and picked up two yellow cards in three minutes to cap a disappointing day for the Gunners.
🔴 RED CARD! Things go from bad to worse for @Arsenal as @Thomaspartey22 is sent off!— beIN SPORTS (@beINSPORTS_AUS) January 20, 2022
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