The eighth-seeded Suarez Navarro needed only 62 minutes to beat Radwanska and will next face Latvian 18-year-old Jelena Ostapenko, who reached her first WTA Tour final when German Andrea Petkovic retired with a leg injury while trailing 7-5, 1-0.
Radwanska was 3-1 in head-to-head against Suarez Navarro, which included a crushing 6-1, 6-3 defeat for the Spaniard in the quarter-finals of the Australian Open in January, but she was determined to make amends from the word go.
Suarez Navarro unleashed two of her 21 winners in the first game to break Radwanska. The third-seeded Radwanska broke back immediately, but that was the only high point of the day for her.
Suarez Navarro won the first set in 29 minutes and Radwanska could do nothing in the second, despite her opponent taking a hard tumble while chasing a ball that required on-court medical attention.
"Today, I feel really, really good," said Suarez Navarro, who is set to improve to number six in the rankings.
"I think also she was a little tired from yesterday (when she beat Roberta Vinci is three sets)."
On achieving her career-high ranking, she added: "You work for a long time for this. And to be in the top 10 is obviously good. I feel happy."
In the other semifinal, Petkovic appeared to be cruising against Ostapenko when she was 5-1 in the first set with a couple of early breaks.
But she injured her left leg, and also seemed troubled with her back and Ostapenko took full advantage to rattle off the next seven games in a row before the German retired.
"I feel really sorry for Andrea that she had to retire. She is a great player. But I am happy to have fought back from 5-1 down and reach the final," said Ostapenko.
Suarez Navarro and Ostapenko have met once before -- in the first round of last year's Wimbledon -- where the young Latvian was a 6-2, 6-0 winner.
Ostapenko, ranked 88th at the start of the week, is expected to move into the top 50.