The Sharks managed a double victory of Phoenix with an away 74-60 victory followed up with a 102-74 thrashing at the EIS, giving them a 176-134 aggregate score.
Leicester meanwhile managed to win away in Worcester with an 82-73 victory to seemingly give them a massive chance of progression to the final.
However the Wolves would comeout fighting at the John Sandford but come just short of an amazing comeback, winning 68-66 on the night but losing by seven overall (148-141), allowing Leicester to compete for their second trophy of the season.
The two sides met in the cup semi-final with Leicester Riders winning both the away leg (90-70) and the home leg (75-45).
Leicester Riders also beat the Sharks 71-55 in Sheffield on the first day of the BBL season and have only lost two BBL games this season.
The two teams will meet just FOUR days after the trophy final in a league fixture in Leicester.
The final will be held at the Emirates Arena in Glasgow on 9th March (next weekend).
Tickets can be bought here.
Key Player for both teams:
Andrew Sullivan: He has won everything you can win in the BBL and his experience may be crucial in the final. The Forward may be a elder-statesman but he has a lot to offer having been part of the GB International set-up. Averaging 14 points a game, Sullivan can make the difference.
Micah Williams: Williams impressed in the second leg of the semi-final scoring back-to-back threes against Cheshire. The Guard has averaged 15.3 points per game in his debut season for the Sharks, he has scored 10 points when the Sharks last met the Riders. He could be the key.
Leicester Riders have only lost three games in all competitions (Plymouth, Worcester and Guilford/Surrey Heat)
Sheffield Sharks have a three game win streak going with a double over Cheshire Phoenix and victory over the Manchester Giants.
Leicester Riders should win comfortably having won a final already this season and having experience, BUT I think the Sharks can push them all the way as it will be their big moment - though they will fall just short.