The Matildas led 3-0 at the break thanks to two set-piece goals from Emily Gielnik and a header from defender Alanna Kennedy, before the Netherlands netted after 75 and 79 minutes to set up a grandstand finish.
Gielnik opened the scoring after 16 minutes direct from a corner, before adding her and the Matildas' second with a free-kick from out wide.
Kennedy added a third on the stroke of half-time, with the Matildas holding on despite the Netherlands pulling two goals back late in the second half.
The Matildas had started the tournament with a 1-0 defeat to Sweden, and will finish their Group C campaign against China.