Leonardo Mayer beats Dan Evans by 4-6 6-3 6-2 6-4 in the semifinals of Davis Cup on Monday. Dan Evans won the first set but Mayer fought back to eventually clinch victory.
Britain had trailed 2-0 after the first day in Glasgow, but doubles victory on Saturday was followed by a singles win for Andy Murray on Sunday.
It is the fifth time Argentina have reached the final as they attempt to win the title for the first time.
Britain, who won the Davis Cup for the first time in 79 years 10 months ago, must wait for Wednesday’s draw to see which nation they will face in the 2017 first round in February.
“It never feels good losing, of course it doesn’t, but no regrets,” GB captain Leon Smith said.
“We just asked the guys to go out and fight their hardest - the Argentines over the course of the weekend just played that little bit better and got the wins that were needed.”
There was intrigue well before the first ball was struck on Sunday, with rumours circulating that Juan Martin del Potro would not play in a potential deciding fifth match as he nurses his body back from serious injury.
Murray beat Guido Pella 6-3 6-2 6-3 to level the tie at 2-2, it was confirmed that Argentina’s star man would sit out the final rubber. “We had to keep it to ourselves until the last moment so Great Britain were thinking a little bit, but we knew from last night that Mayer would play,” said Argentina captain Daniel Orsanic.