Benneteau will face second-seeded Juan Monaco of Argentina, who outlasted Kei Nishikori of Japan, 6-2, 2-6, 7-6 (4) in Saturday's other semifinal match at Kuala Lumpur's Putra Stadium.
The fifthth-ranked Ferrer looked visibly tired and made multiple unforced errors in the 97-minute match against against Benneteau, who is ranked 29 spots lower.
The 11th-ranked Monaco, who is looking for his fourth title of the year, described his match against Nishikori as "very difficult."
"I just fought for every ball to try and stay in the match. Once I got some rhythm, I started to play better," he said.
Nishikori led 5-2 in the third set before Monaco fought back to win in a match that lasted 2 hours, 42 minutes.