The Saints second string, who included seven guest players in their squad, lost 89-7 at Allianz Park.
Saracens ran in 12 tries as they set up a final trip to the winners of Newcastle's clash with Exeter, which takes place next Monday.
The Wanderers had won the title in each of the past two years, but with many of those players having stepped up to the first team, they couldn't make it past the final four on this occasion.
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The signs were ominous early on at Allianz Park as Saracens claimed a penalty try, forcing Wanderers prop Will Davis into the sin bin.
Nick Isiekwe scored Saracens' second try on 11 minutes, with Max Malins converting.
Sione Vailanu was next to score before Tom Whiteley made it four tries before the half-hour mark.
Ralph Adams-Hale grabbed the fifth before the Wanderers withdrew skipper James Grayson, with Matt Worley coming on in his place and Tom Emery going to fly-half.
Tom Woolstencroft was next to score before a fortunate bounce of the ball allowed Vailanu to register his second.
Elliott Obatoyinbo showed his pace down the left wing to round off an ideal half for Saracens, who led 56-0 at the break.
The Wanderers started the second period in better fashion as Worley stretched over the line.
Emery added the conversion but Woolstencroft soon notched his second try of the night as Saracens took control once again.
Future Saints players Henry Taylor and Reuben Bird-Tulloch were introduced by the home side, who scored again through Whiteley.
Vailanu completed his hat-trick 15 minutes from time and Anthony Maka added a late double as the Wanderers were well beaten,
Saracens Storm: Gallagher (Watson 44); Obatoyinbo, Morris (Bird-Tulloch 51), Griffiths, Segun; Malins (Taylor 44), Whiteley; Adams-Hale (Thompson-Stringer 44), Woolstencroft (Figallo 51), Judge (Maka 51); Day, Isiekwe (Kpoku 48); Reffell, Earl (Tolofua 51), Vailanu.
Wanderers: Emery; Sleightholme (Tupai 41 (Freeman 69)), Kellaway, Strachan, Pisi; Grayson (c) (Worley 29), Davies; Davis (Trinder 54), Newman (guest) (Taylor 54), Painter (Ford-Robinson 54); Jubb (guest), Carrick-Smith (guest); Coles (Betteridge 41), Onojaife, Uru (Laxton 48).