Caroline Graham Hansen haunted Chelsea yet again, having also scored in the semi-final first leg at Stamford Bridge on Saturday to give Barcelona a slender lead in the tie.
After some superb play from Aitana Bonmati, Graham Hansen (63) fired the hosts in front with the game’s first shot on target.
But four minutes later, Guro Reiten rifled home Chelsea’s reply to level things on the night and despite a battling performance, the Blues were unable to add another and force extra-time.
Emma Hayes’ side will now refocus their efforts on the WSL title race – which they resume next week – as well as preparing for an FA Cup final meeting with Manchester United at Wembley on May 14.
Barcelona, champions in 2021, advanced to the final on June 3 where they will face either Wolfsburg or Arsenal, who meet in the second leg of their semi-final, currently level at 2-2, at the Emirates on Monday.