The Netherlands almost got off to a perfect start as Adam Maher clipped a fifth-minute free kick against the post.
Francesco was then tested by Daley Blind before Borini hit the side-netting late in the half.
The frantic end to the first half was not matched at the start of the second and it took 20 minutes for the first meaningful effort as Borini fired a snap-shot just wide.
With the game heading for extra time, it was Borini who finally broke the deadlock as he latched onto Lorenzo Insigne's ball before turning in the box and firing low.
After that the Italians were comfortable in holding on to their lead and move on to meet Spain in Tuesday's final.