The Italian striker scored a hat-trick at Yankee Stadium to see the Canadian club past Patrick Vieira's City 7-0 on aggregate and into the Conference Championship game where they will meet Montreal Impact.
The former Juventus star netted in the 6th and 20th minutes before wrapping up his treble in injury-time with an absolute peach of a strike.
Jozy Altidore and Jonathan Osorio were also on the scoresheet for the victors, with the former scoring a sublime angled volley, as they produced their most powerful performance against a City side consisting of Frank Lampard, David Villa and Andrea Pirlo.
Giovinco now has 21 goals for the season, with four coming in the play-offs following his opener in the Eastern Conference knockout win over Philadelphia Union in late October.
Greg Vanney's side now get the chance to take on the Impact in the all-Canadian Eastern Conference final which kicks off at the Olympic Stadium in Montreal on November 22.
Watch the highlights and Giovinco's hat-trick below, courtesy of Toronto FC's official YouTube channel: