Mexican giants and seven-time champions America salvaged a last-gasp draw after Mateus Uribe's 92nd-minute equaliser cancelled out Jonathan Osorio's firth-half opener on Wednesday (AEST).
But the second-leg draw was still good enough to see MLS advance to its first CONCACAF Champions League final as 4-2 winners on aggregate.
Toronto, which won the opening leg 3-1, were forced to play the majority of the match without star forward Jozy Altidore – the United States international substituted early following a collision at the iconic Estadio Azteca.
However, Toronto were not overawed as Osorio opened the scoring in the 12th minute when Sebastian Giovinco delivered and substitute Tosaint Ricketts played in the former.
America thought they had equalised seven minutes later but Eriq Zavaleta's own goal was ruled offside.
Happy to sit back in the second half, Toronto only conceded via the penalty spot in stoppage time after Michael Bradley fouled Oribe Peralta.
New York Red Bulls were unable to make it an all-MLS decider after they were held to a goalless draw by Mexican visitor Guadalajara.
Guadalajara – 1962 champion – won the opening leg 1-0 on home soil and they managed to grind out a scoreless stalemate – keeping the Red Bulls scoreless for 180 minutes.
Toronto and Guadalajara will go head-to-head in a two-legged final later this month.