The match, won on the back of fly-half Jonny Wilkinson's kicking heroics, drew an average audience of 11.2m and a 47% share, according to unofficial overnight figures. The figures exclude people watching in bars and pubs.
ITV1's entire coverage of the event, including pre and post-match analysis, was watched by an average audience of 9.6m and a 42% share, in the 7.45pm-10pm slot.
The audience dwarfed figures for England's quarter-final over Australia, which attracted an average audience of 5.2m and a 49.3% share.
ITV is set for an unexpected advertising revenue windfall this Saturday, with ITV1 showing exclusive live coverage of the Rugby World Cup final on Saturday and British Formula 1 driver Lewis Hamilton's attempt to win the world championship at the Brazilian Grand Prix the following day.
Simon Shaps, ITV director of television, said: "We're absolutely delighted that over 12m viewers watched England's extraordinary win over France to reach their second successive Rugby World Cup Final. It's been a fantastic tournament for England and we're thrilled to have covered every second of their journey on ITV1.
"With England's attempt to be the first team to hold onto the Webb Ellis trophy on Saturday and Lewis Hamilton on the verge of a Formula 1 world championship win in Brazil the following day, it could well be one of the biggest weekends of live sport that anybody can remember."
ITV is believed to have made an extra £2m in advertising from the Rugby World Cup this weekend. Cadbury is understood to have paid £700,000 for the last 90-second spot before ITV1's coverage of the semi-final began.
The commercial broadcaster had based its advertising revenue calculations on England getting through to the quarter-finals, but the team's unexpected progress to the final on Saturday is set to boost its fortunes even further.