After a VAR review revealed that Australia’s Clare Hunt pinched Stina Blackstenius’ heels, the Swedes were granted a penalty in the 28th minute, and Fridolina Rolfo stroked home the resultant spot kick.
Following another rapid counter-attack, Sweden captain Kosovare Asllani rifled a lovely drive from the edge of the penalty area past goalkeeper Mackenzie Arnold to extend their advantage shortly after the hour mark.
While the Matildas were unhappy to finish the World Cup with another defeat, they nevertheless earned their greatest result at the competition, having never before advanced past the quarter-final stage.
Both teams were unchanged from the semi-finals, in which Australia was defeated 3-1 by England and Sweden was defeated 2-1 by Spain. On Sunday, England will face Spain in the final.
Sweden started strongly and could have had a dream start when Blackstenius blasted a low drive across goal in the first minute, but Arnold palmed it away and defender Ellie Carpenter cleared.
The Matildas quickly settled into their passing rhythm, bursting forward on the counter through Hayley Raso, but her effort was stopped. Raso was denied again midway through the half by keeper Zecira Musovic of Sweden.
Rolfo headed against the crossbar from Asllani’s superb cross just before Sweden was awarded a penalty, which the capacity crowd of 49,461 booed.
With the game increasing up pace, Arnold made a spectacular low save to keep Rolfo’s free kick out in the last minutes of the half.
The Matildas fell further behind as Australia coach Tony Gustavsson made his first substitutes, with Asllani completing off an incisive break before being swarmed by her jubilant teammates.
Australia advanced numerically but ran out of energy and ideas. Their efforts to fight their way back into the game were hampered when star scorer Sam Kerr was injured late in the game, and Sweden easily won.
(With inputs from Reuters)