The Dutch have settled on their best team, led by Arjen Robben and Ruud van Nistelrooy in a classy forward partnership, and feel a repeat of their 1988 European Championship win is on the cards.
Portugal, inspired by the artistry of Deco and bolstered by the defensive partnership of Jorge Andrade and Ricardo Carvalho, have quality running through their side and the benefit of passionate home support.
Wednesday's game at the Jose Alvalade stadium will be as much a test of nerve as a trial of skill, though, as the two beaten semi-finalists from the last European Championship bid to avoid a similar fate.
This will be a fifth semi-final for the Dutch and they have won just one, when they went on to take the title in 1988.
Portugal have lost both their previous semi-finals and they are well aware that the hosts have gone out at the semi-final stage in the last four championships.
Those factors, coupled with the blazing heat in Lisbon, could lead to an over-cautious approach and there is a distinct air of tension in the Portuguese camp, perhaps primed by the enormous expectations of the country's 10 million people.
"I believe we'll go on to reach the final because I think we are a better side," Deco told reporters.
"It would be a huge disappointment to miss out on the final now, or to reach the final only to lose it."
The Portuguese do have some history on their side, with the Dutch having won only one of their eight previous meetings.
Pauleta is available again
Deco, Carvalho and defensive midfielder Costinha are just a yellow card away from missing the final if they do make it after being booked in the quarter-final win over England.
Dutch coach Dick Advocaat will be forced to make at least one change, with centre-back and captain Frank de Boer out after suffering an ankle injury in the penalty shoot-out win over Sweden in the quarter-finals.
Wilfred Bouma is the logical choice to partner Jaap Stam while Andy van der Meyde's poor performance could see him replaced by Marc Overmars.
Johnny Heitinga, another option in defence, believes Luis Figo remains the main threat to Dutch hopes, even if his recent form has not been spectacular.
"Figo is an excellent player and he still has the ability to decide a match in one moment," Heitinga said.
Van der Meyde and substitute striker Roy Makaay have yellow cards and are in danger of missing the final through suspension.
The final is on July 4 and will feature the winners of Thursday's semi-final between Greece and the Czech Republic.
Probable teams:
Portugal (4-3-3): 1-Ricardo; 13-Miguel, 16-Ricardo Carvalho, 4-Jorge Andrade, 14-Nuno Valente; 6-Costinha, 18-Maniche, 20-Deco; 7-Luis Figo, 17-Cristiano Ronaldo, 21-Nuno Gomes
Netherlands (4-3-3): 1-Edwin van der Sar; 2-Michael Reiziger, 4-Wilfred Bouma, 3-Jaap Stam, 5-Giovanni van Bronckhorst; 20-Clarence Seedorf, 8-Edgar Davids, 6-Philip Cocu; 7-Andy van der Meyde, 10-Ruud van Nistelrooy, 19-Arjen Robben
Referee: Anders Frisk (Sweden)
Linesmen: Kenneth Petersson (Sweden), Peter Ekstrom (Sweden)
