Dessie Ward and Michael Langan traded points early on before Shay Malone got the opening goal of the contest for Donegal after five minutes.
Monaghan had a goal of their own three minutes later when Andrew Woods found the back of the Donegal net.
Woods and Michael Bannigan got points either side of scores from Conor O’Donnell and Michael Langan as Donegal led by three points after 17 minutes.
Monaghan were trading blow for blow with Donegal. Stephen O’Hanlon buried the ball to the roof of the Donegal net on 26 minutes. Ryan O’Toole got their third goal of the contest three minutes later.
Monaghan goal rally
Andrew Woods then split the posts as the sides drew level on 31 minutes.
Jason McGee hit a two-pointer in response to the Monaghan purple patch before Donegal struck a hammer blow when Jamie Brennan got their second goal of the contest. At half-time Donegal led 2-11 to 3-7.
Shay Malone opened the second-half scoring for Donegal, as Dessie Ward got Donegal’s first two-pointer of the day drawing the sides level after 37 minutes.
Monaghan didn’t have to wait as long for their second two-pointer. Rory Beggan comfortably slotted over, raising the orange flag on 40 minutes.
Caolan McGolgan, Shay Malone, Michael Langan and Conor O’Donnell kicked four scores in a row for Donegal as they took a firm grip on proceedings after the hour mark.
Ryan Wylie brought a 14 minute scoring drought to an end for Monaghan when he fired over.
Points Ryan O’Toole and Jack McCarron brought Monaghan back to within three with less than five minutes remaining.
However, Donegal substitute Finbar Roarty kicked a score on 69 minutes securing the win and booking their place in the league final.
Monaghan losing out by five points, 3-20 to 3-15. Monaghan look ahead to their Ulster Championship opener against Cavan on April 18th.