The Italian, who was criticized by Belgium coach Marc Wilmots for favoring Argentina earlier in the competition, will take charge of the Albiceleste's clash with Germany.
The 42-year-old has already presided over two of Argentina's games at the tournament in Brazil — the 3-2 win over Nigeria in the group stage and the 1-0 quarterfinal victory against Belgium.
Rizzoli also oversaw Netherlands' 5-1 demolition of Spain in Group B's opening game, and has handed out nine cautions in those three matches, with no red cards.
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The Italian's appointment could cause a stir among the Germany camp, after Belgium coach Marc Wilmots accused the official of favoring Argentina during the quarterfinal clash.
"I don't want to be a crybaby, but I noticed the referee never gives fouls against Argentina," Wilmots said after the match. "Every time something happens with Messi the referee gives him a free kick. I notice he made three fouls and no yellow card, we made one foul and got one yellow card."
Rizzoli will be familiar with many of the Germany starting XI, however, after refereeing the Champions League final between Bayern Munich and Borussia Dortmund at Wembley last year.