Saints will return to Wembley for the first time in 18 years after a 4-1 aggregate win over MK Dons in the JPT Area Final.
A 3-1 success on the night thanks to strikes from Rickie Lambert, Adam Lallana and an own goal set Alan Pardew's men on their way to another cup win, with this one capping the lot so far.
The victory sets up a showdown for silverware with Carlisle United on Sunday 28th March after the Cumbrians saw off Leeds United in the Northern section of the competition.
Saints: Davis, Thomas (James 88), Fonte, Jaidi, Harding, Antonio, Hammond, Schneiderlin (Wotton 77), Lallana, Papa Waigo, Lambert. Subs (not used): Bialkowski, Mills, Holmes.
MK Dons: Gueret, Lewington, Stirling, Woodards (Davis 46), Howell (Rae 78), Gleeson, Leven, Morgan, Randall (Gobern 56), Chadwick, Wilbraham. Subs (not used): Carrington, Flanagan.
Referee: Mr. G. Hegley (Hertfordshire)
Attendance: 29,901 (including 447 away)
Alan Pardew wanted his side to make a strong start to the game and he got just that as Saints got things underway attacking the Northam End with an unrelenting attacking display.
Papa Waigo was a key figure in the opening exchanges as he flashed an early header wide of Willy Gueret's goal before causing more mayhem inside the tenth minute when he drilled a low ball across the six yard box which Dons captain Dean Lewington touched out of play.
Shortly after play had resumed for a knock to defender Danny Woodards in the visitors' area, Saints' early endeavour was rewarded.
Adam Lallana set Lambert away inside the area and when faced one on one with Gueret the striker made no mistake with a low shot into the corner to make it 1-0 in the 14th minute.
Returning skipper Dean Hammond almost capitalised from a Lambert corner as he somehow squeezed a header at the back post towards goal which Gueret held, and then Lallana was denied in the next attack as he tried to force home a blocked shot from Papa Waigo inside the area.
The best that the Dons had to offer was when Stephen Gleeson teed up Dean Morgan from distance, but the midfielder smashed his shot high and wide of Kelvin Davis' goal.
In the 29th minute Papa Waigo and Michail Antonio linked up with the former deftly flicking the ball into the winger's path, but the youngster hurried his effort as he bore down on goal and dragged his shot narrowly wide of Gueret's goal.
Moments later though, Antonio's persistence created the second goal of the night as he barged his way through into the area and the challenge from Luke Howell hit fellow Dons player Danny Woodards and rebounded into the net with Gueret stranded.
On 33 minutes Lallana was body-checked 30 yards from goal supplying an opportunity for Lambert to try his luck from a set-piece. The front man's initial effort was blocked by the wall and the striker's follow up appeared to hit the hand of a Dons defender but referee Grant Hegley waved the appeals away.
Saints remained in the ascendancy right up until a minute before the break when an awkward looping ball wasn't fully cleared inside the area and Arsenal loanee Mark Randall stabbed in from ten yards to bring the score on the night to 2-1 going into the interval.
Half Time: Saints 2-1 MK Dons (3-1 on agg)
Paul Ince made two changes to his side inside the opening ten minutes of the new half with goal scorer Randall and defender Woodards replaced by Sol Davis and Lewis Gobern, the brother of Saints Academy graduate, Oscar.
An altogether quieter beginning to the second period saw limited chances created from either side even though the game started to open out.
Lambert and Waigo remained a threat going forward for the hosts but Saints' backline had to be alert to the long throws of Jude Stirling which were strong enough to rival Antonio's efforts.
Peter Leven saw his well struck free-kick held by Davis before Paul Wotton replaced Morgan Schneiderlin inside the last quarter of an hour.
Thomas and Lewington had a collided as they challenged for the ball and the momentum of the challenge from the Saints defender saw the Dons captain go to ground whilst Thomas was booked.
On 83 minutes Waigo knocked the ball down for Antonio on the edge of the area for a rare sight of goal in the second half which was kept out by Gueret with time fast starting to run out.
Tempers briefly flared as Aaron Wilbraham floored Lallana deep inside the Saints half, but the striker avoided a caution from Mr. Hegley.
An 87th minute free-kick from nothing saw Lambert create the goal that sealed Saints' Wembley appearance in March. His shot was pushed on to the near post by Gueret and rebounded out to Lallana who crashed home the third goal of the night for the hosts to ensure a smoother ride to end the game.
Lloyd James got a late run out as he came on for Thomas before three minutes of additional time were allocated, during which time cheers of 'We're going to Wembley' rang around St. Mary's.
Full Time: Saints 3-1 MK Dons (4-1 on agg)
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