Victoria Azarenka's quest to join an elite group of major-winning mums has fallen short with her Australian Open semi-final defeat.

The 33-year-old's tournament was ended by Kazakh Elena Rybakina - 10 years her junior - losing 7-6 (7-4) 6-3 on Rod Laver Arena on Thursday night.

Belarusian Azarenka was looking to win her third major and first since becoming a mother to six-year-old son Leo.

Only three women have won a grand slam singles title after having a baby - two Australians in Margaret Court and Evonne Goolagong Cawley, and most recently Belgian Kim Clijsters.

A former world No.1, Azarenka won successive crowns at Melbourne Park in 2012-13. She has also reached the US Open final three times without ever lifting the trophy.

Azarenka showed her fighting spirit to match Wimbledon champion Rybakina in the first set to push it to a tie-break.

But she couldn't stay with the big-serving youngster in the second.

The frustrated veteran felt she didn't make the most of her opportunities.

"It's kind of hard to digest as obviously I had quite a few chances ... kind of not converting them right now is difficult," Azarenka told reporters.

"I'm proud of myself how I fought and I tried, but tennis-wise I felt I just wasn't there, especially in the important moments."

As a consolation Azarenka will jump from world No.24 back into the top 20 on the back of her Open run.

In the quarter-finals she trounced world No.3 Jessica Pegula in straight sets and also knocked out another American, 10th seed Madison Keys, in the third round.

She felt that once the initial disappointment of missing the final lifted she would reflect positively on her tournament.

"It's not a great feeling right now to digest, but give me a couple hours and I can have probably a better outlook on this month in Australia," Azarenka said.

"Time always is a good medicine.

"I don't take it as personal, it's just a day that my game didn't win.

"I think that helps my mindset to not dwell on things like that too much."