Novak Djokovic narrowly won against Jannik Sinner 6-3, 6-4, 7-6 (4) in the men's Wimbledon semifinals.
Djokovic's victory puts him in the running for a record-tying eighth title at Wimbledon and his fifth in a row.
Alcaraz, who recently won against No.3-ranked Daniil Medvedev, proceeds to his first final at the grass-court major tournament.
Djokovic, 36, is going for his 24th Grand Slam Singles Championship, while Alcaraz, 20, seeks his second following his US Open triumph.
Djokovic has remained unbeaten at Wimbledon since 2017 and has managed to reach his ninth final at the All England Club.