After defeating Bermuda 3-1 in their opening game of the tournament, Paul Okon’s men had to come from 4-2 down to defeat a classy Chile to make it two from two in the round robin tournament.
The Young Socceroos went 2-0 up before conceding four times to be 4-2 down before powering home with three goals to win the game 5-4.
The opening two goals for the Young Socceroos were scored by Marc Marino and Brisbane Roar’s Devante Clut.
Chile replied with four goals to stun the Aussies.
Then with the game seemingly out of reach, super-sub Awer Mabil popped up twice to level the match.
And Perth Glory’s Italian bound playmaker Daniel de Silva iced the cake with a winner to make it 5-4 in one of the most exciting games in Young Socceroo history.
It also extracted a measure of revenge for the Socceroos who were defeated by Chile 3-1 at Brazil 2014.
Mabil has now scored four goals in this tournament after his brace against Bermuda as the Adelaide striker's star continues to rise.
Saturday’s final game against the USA will be streamed live on US Soccer’s website (kick off midday AEST).
Young Socceroos’ starting line-up against Chile
Izzo (GK), D’Cunha, Alessi, Woodcock, Gligor, Sotorio, Clut, Galloway, Naumoff, Rose, Marino.