Brooke Peris converted the decisive penalty to clinch a 4-3 win over the world number threes.

"I just focused on what I needed to do. She's a very good goalkeeper. I had a plan in mind and I just did what I wanted to do. I got the result so I'm pretty happy," Peris said.

"I'm very proud of the girls. It was a very tough performance," she added.

Hockeyroos goalkeeper Rachael Lynch had saved Australia from elimination when she denied Magdalena Fernandez.

It was a game of few chances though with neither side able to break the other in 60 minutes. 

Argentina did have their chance with Agustina Albertarrio and Rocio Sanchez going close in the opening period while Julieta Jankunas deflection went wide.

The Hockeyroos weren't without their chances as Stephanie Kershaw put a ball into the circle for captain Emily Smith in the third period but the Argentine goalkeeper intervened. Their best chance came from Kathryn Slattery in the 37th minute which forced a save.

Australia will play either the Netherlands (world number one) or England (world number two) in the semi-finals from 11pm AEST on Saturday live on Fox Sports.