Australian Open champion Wawrinka, who next faces fellow Swiss Roger Federer or Serb Novak Djokovic, raced through the first set and kept his composure in the second when his opponent raised his level.
Sixth seed Ferrer, who knocked out eight-times French Open champion and world number one Rafael Nadal in the quarter-finals on Friday, was on the back foot throughout.
"It was the perfect start for me. I played very well in spite of the wind," Wawrinka told Canal Plus TV.
"He changed tactics in the second set, being more aggressive, and I became more hesitant but I played tougher then."
Wawrinka quickly opened a 5-0 lead after breaking twice with a passing shot and a forehand return winner.
The Swiss, looking to win his first Masters 1000 title, sealed the opening set with a stunning backhand winner down the line.
Ferrer saved a break point in the opening game of the second set but Wawrinka, whose 31 winners made up for 40 unforced errors, accelerated again in the tiebreak and prevailed on his second match point when his opponent netted a backhand.
- Sports & Recreation
- Novak Djokovic
- Rafael Nadal