The Stockport native needed to reach the semi-final on Thursday to join Luke Littler, Luke Humphries and Gerwyn Price in the Finals Night at London's O2 Arena next week.
And the 33-year-old stamped his ticket with a commanding quarter-final win over seven-time champion Van Gerwen who misses out on the top four for only the second time in 13 years.
Aspinall started the evening four points ahead of Van Gerwen in fourth place in the Premier League table with the Dutchman the only player able to overtake him, with only the top four going through.
With the crowd behind him, Aspinall broke Van Gerwen's throw at the first attempt to take a 2-0 lead and although 'The Green Machine' fought back to take the next leg, was no match for the Englishman who rattled home four of the next five legs to book his place in his maiden Play-Off with a double top.
"There was a lot of emotion after walking off stage. I had to take myself away," Aspinall told Sky Sports. "I spoke so highly of Michael (Van Gerwen) all week and go and win tonight."
Van Gerwen has had a mixed year so far. Beaten in the world championship final to Littler in January, the darting icon has failed to win any major TV title so far and has refused to represent the Netherlands in the upcoming World Cup of Darts.
His next appearance is expected to be at Blackpool's Winter Gardens where he will compete for the World Matchplay title in July.
"He didn't look himself again," Aspinall added. "Even on that stage, he was giving up."
Five-time world championship semi-finalist Wayne Mardle said Van Gerwen simply "has not been good enough".
"I feel for Michael," he told Sky Sports. "The man is a champion, a winner. It is only the second time he has not made the play-offs. He has said it, he has not been good enough at times.
"I don't know how he feels within, he has just looked off. To not have won a week, he won four last year, that is a real blow for him.
"He came into this as the third favourite behind the Lukes and it was all going OK. Then it kind of took a turn for the worst.
"I don't know how bad the injury was but since missing Berlin he has played slightly well in my opinion."
Littler extends winning streak in Sheffield
Littler won night 16 with a scintillating 6-3 win over Humphries to claim a record-extending sixth nightly win.
The teenage star reached the blockbuster final against the world number one after battling past Stephen Bunting 6-1 in the quarter-final before dispatching Nathan Aspinall 6-4 in the semis.
The victory saw him top the Premier League table and pocket £275,000, with Humphries – who overcame Chris Dobey 6-2 and Rob Cross 6-4 on his way to facing Littler – earning £125,000 for finishing as runner-up.
"It has been tough. It is a tough format but I have got myself through," Littler told Sky Sports. "I am very happy to be top again and breaking all these records once again.
"Last year (at the O2), I won the first semi-final then I went on to pick up the trophy. That is all I am thinking about this year is heading to the O2 and putting in a performance in that semi-final.
"(Playing in the first semi-final at the O2) is a massive boost because there is not too much of a turnaround so hopefully I win the semi-final and look forward to the final."
Finals Night confirmed
Aspinall's reward for knocking out van Gewen in their quarter-final clash is a Finals Night showdown with 2024 world champion Humphries, while Price will face Sheffield winner Littler after a shock defeat to already-eliminated Chris Dobey.
All the action takes place at London's O2 Arena on Thursday 29th May.
Premier League table - finals standings
1. Luke Littler (Q) - 45 points
2. Luke Humphries (Q) - 34
3. Nathan Aspinall (Q) - 26
4. Gerwyn Price (Q) - 24
5. Michael van Gerwen - 20
6. Chris Dobey - 17
7. Rob Cross - 14
8. Stephen Bunting - 12