‘Chizzy’ was in sensational form in his quarter-final tie against the reigning world no1 on New Year’s Day, securing a stunning 5-0 whitewash to book a spot in the last four.
The emphatic win by world no8 Chisnall – who almost registered a nine-dart leg, only missing a double 12 – ended a run of 27 matches without a victory over Van Gerwen.
The 40-year-old Englishman told Sky Sports: “I’m so proud. I’ve been practising well, I’ve been playing well I’d say for the last three, four weeks. I have put the effort in. I changed my points to a little bit smaller.
“I was confident against Dimitri (Van Den Burgh in the previous round) and this morning when I woke up I was confident again, just sitting in my hotel room watching the TV.
“I want it (the world title) more than anybody else does. I know my own ability, I know I’m playing well. I can win this.”
Defeat left Van Gerwen “absolutely devastated”.
He added on Twitter: “I didn’t show up at all this evening and let myself down. For some reason it just never happened up there.
“Full credit to ChizzyChisnall who was outstanding all game, and wish him luck for the rest of the tournament. Thank you for the support.”
Anderson earlier defeated Dirk Van Duijvenbode, losing the opening set before surging to a 5-1 triumph.
The Scot, who averaged 101.07, said: “That was good. First set Dirk went off like he did and I played actually all right – I went, ‘Here we go’. But I stuck in.”
Asked if we were seeing the Anderson of 2015 and 2016, the years he won the title, the 50-year-old said: “Not quite yet. It’s getting there.
“The 140s are coming good now. Still a few mistakes, but happy.”
He added: “If I wasn’t to win this title I’d love to see Chizzy (Chisnall) win it. He’s been on the go for years and he is a phenomenal darts player.”
Wales’ world number three Price reached his second successive semi-final as he beat Daryl Gurney 5-4.
And Bunting secured a maiden last-four appearance via a 5-3 win against Krzysztof Ratajski.
Additional reporting by the Press Association.