Raghunath single-handedly spoiled Punjab's party with sheer individual brilliance as he converted four penalty corners to ensure the win for the Wizards after they were down 0-3 till the 39th minute.
The Rhinos scored through field goals from Mandeep (5th minute, 66th) and Wilson (32nd, 64th), while Nithin Thimmaiah (16th, 54th) was the goal-getter for the Wizards.
The Wizards have been one of the most inconsistent sides in the tournament and had struggled to make through to the last four stage.
Delhi were completely off-colour on Thursday and never looked the team which came into the match with an unbeaten record.
Record chasing Delhi Waveriders would come across an inspired Uttar Pradesh Wizards in their final league encounter on 7 February, the result of which will also decide the semi-final line-up of the inaugural Hero Hockey India League.
The fact that the Magicians thrashed the Wizards 4-0 in their previous meeting, the home team's lone win in 10 games, should boost their confidence ahead of the do-or-die clash.
Uttar Pradesh Wizards captain VR Raghunath said that their team failed to materialise the opportunities. "We did attack a lot but we could not change into goal while Delhi got less opportunity than us but they set the goal and whatever way they got they changed into goal," Raghunath said.