Henin will face a well-prepared Ivanovic, who has been practising in Sydney for almost a month.
"I've definitely had a good preparation and I'm really happy that I've won the last couple of matches and had a chance to slowly get into it," Ivanovic said after beating Srebotnik.
"Winning a couple of matches has definitely given me some confidence and coming into the Australian Open I feel much better," she said.
Second seed Kuznetsova says she needs to have more self-belief to take her tennis to the next level.
The Russian has not won another Grand Slam since her 2004 success at Flushing Meadow despite playing in other finals, at last year's US Open and the 2006 French Open.
Kuznetsova showed her power on the slower Plexicushion hardcourt with a 6-4, 6-0 win over Italian Francesca Schiavone.
"I need to be more consistent," she said. "To take the next step and win another slam I just need to play more important matches better and maybe believe in myself a little bit more."
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