It is the first meeting between the world No.1 and No.2 in the tournament's history with a winner's purse of €699,690 at stake
The Netherlands stunned South Africa by 38 runs in a rain-reduced match at the World Cup in Dharamsala on Tuesday.
Chasing a target of 246 in 43 overs, South Africa were all out for 207.
This was the second biggest upset of this tournament after Afghanistan had beaten reigning champions England in New Delhi.
The Netherlands had also shocked South Africa by 13 runs in the T20 World Cup in Adelaide last year.
Earlier, captain Scott Edwards smashed an undefeated 78, while Roelof van der Merwe returned to stun his homeland with a late cameo as the Netherlands made a fighting 245-8
Edwards's runs came off 69 balls and featured 10 fours and a six.
Meanwhile, 38-year-old Van der Merwe, who played 13 ODIs for the Proteas before switching allegiance, hit a quickfire 29 off 19 balls with three fours and a six before he was caught behind off Lungi Ngidi.
Together, Edwards and Van der Merwe put on a crucial 64 for the eighth wicket after the Dutch were struggling at 112-6 at one stage in a game reduced to 43 overs a side following a delayed start due to rain.
"We would've liked a better start but we had to work with what we had and got a few at the end," said Van der Merwe.
"It's is a good wicket but it is a bit two paced, there is a bit of up and down. We've got something on the board so you never know."
Kagiso Rabada claimed his 150th ODI wicket as South Africa's feared pace attack ripped through the Netherlands top order in chilly, damp conditions in the shadows of the Himalayas.
Rabada reached his personal landmark when he struck with the first ball of his spell, cramping up opener Vikramjit Singh and forcing a top edge to Henrich Klaasen.
Singh had laboured to just two runs from 16 balls after the Dutch were put into bat.
Rabada, playing in his 95th ODI, also acocunted for the dangerous Bas de Leede, lbw for two.
Max O'Dowd, South African-born Colin Ackermann, who was man of the match when the Dutch shocked the Proteas at the T20 World Cup last year, Sybrand Engelbrecht and Teja Nidamanuru all reached double figures.
Equally all struggled to get on top of Rabada and fellow fast bowlers Marco Jansen, Gerald Coetzee and Ngidi.
Off-spinner Keshav Maharaj then got in on the act, tempting Logan van Beek to stretch and over-balance, allowing Quinton de Kock to effect the stumping.
However, that paved the way for Edwards and van der Merwe to launch a rescue bid, ably assisted by Aryan Dutt who hit an undefeated 23 from nine balls with three sixes.
South Africa, who came into the game with two wins from two games, conceded 32 extras.
The Dutch lost both their opening games in the tournament.
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