Australia will face Serbia in the semi-finals at Rio with the winner to progress to the gold medal game.
The Boomers annihilated Lithuania 90-64 in their earlier quarter-final while Serbia downed Croatia 86-83 in the last battle of the final eight.
Australia will be full of confidence after overcoming Serbia 95-80 in their pool match.
The encounter is scheduled for 8am Saturday (AEST).
The USA managed a 105-78 victory over Argentina in their quarter-final and will play Spain in their semi.
The 11th ranked Australians have been outstanding throughout their Rio campaign, with NBA stars Andrew Bogut, Patty Mills and Matthew Dellavedova leading the way as the Boomers chase a debut Olympic medal.