The duo defeated Michella Krajicek of the Netherlands and Barbara Zahlavova Strycova of the Czech Republic 6-3, 6-2 to book their place in the final where they will take on unseeded pair Bethanie Mattek-Sands of America and Czech Lucie Safarova.
After the match Chan said: "My injuries over the past few years have presented big challenges for me. Making it into the Australian Open women's doubles finals is very meaningful for both me and Zheng Jie. This, to me, is the greatest possible redemption and validation. I'm so happy right now."
She added: "Zheng Jie is like my older sister. She has taught me many things and is my best friend. For us to be able to reach the finals, it feels very different."
The pair, who are seeded 14 in the tournament, have not dropped a set on their march to the final. Chan last played in a Grand Slam final at the Australian Open in 2011, while last played in a Grand Slam final in 2006 when she won the women's doubles at Wimbledon.