Fognini beat defending champion Pablo Cuevas of Uruguay 6-4, 6-2 on Saturday. Jarry overcame Argentina's Horacio Zeballos 6-7 (5), 6-4, 6-4.
The final of the Brazilian tournament on clay will mark the first match between the Italian and the Chilean. Neither has won the Brazil Open title.
Fognini beat Portugal's Joao Rodrigues, Spain's Guillermo Garcia-Lopez and Cuevas, who won the three previous editions of the tournament.
Jarry advanced to the final with wins against Serbia's Dusan Lajovic, Argentina's Guido Pella, top-seed Albert Ramos Vinolas of Spain and Zeballos.
Desert Smash: A Celebration of Celebrity, Charity and Tennis Unlike Any Other
The 14th annual Desert Smash charity tennis event is Tuesday, March 6, and there are many reasons to mark your calendar. Here are just five of those reasons, including the event's host, Serena Williams.
Desert Smash is the kick off to Indian Wells, which will be broadcast on Tennis Channel over the next two weeks.
*** STREAM DESERT SMASH LIVE on TENNIS.com ***
*** WATCH LIVE on TENNIS CHANNEL ***
*** PURCHASE TICKETS AT https://desertsmash.