Toulon grabbed a bonus-point 42-10 win at home to Castres on Saturday to progress to the Amlin Challenge Cup quarter-finals.
Sarries thrashed Rovigo 56-8 in Italy, notching eight tries in the process, but Toulon's six-try victory at home meant that the Watford club's efforts were in vain.
Japan international winger Christian Loamanu scored two tries, as did Mafi Kefu, while Sinoti Sinoti and Cedric Beal weighed in with one apiece.
Jonny Wilkinson converted all six scores to take Toulon to the comfort of a home quarter-final against one of the Heineken Cup runners-up sides.
Openside Andy Saull was the Saracens marksman, scoring a hat-trick of tries while Michael Tagicakibau also bagged a brace.
Rod Penney, Kevin Barrett and Mouritz Botha scored the other tries, while Derick Hougaard and Alex Goode split the conversions four apiece.
Elsewhere, Parma beat Bucuresti 16-9 in Italy, with former Wasps full-back Ed Thrower's try the difference between the teams.
Bayonne made light work of Roma with a 55-6 win in Italy, scoring nine tries. Wing Jean-Baptiste Peyras and hooker David Roumieu both scored two, with centre Sam Gerber, openside Julien Puricelli, hooker Arnaud Heguy, lock Guillaume Bernad and replacement centre Thibault Lacroix all dotting down.
Italian international fly-half Craig Gower pitched in with five conversions for the Avirons.
Connacht completed their fixtures with a routine 66-0 win over Olympus Madrid and thus finish as top seeds from the pool round.
Keith Matthews and replacement hooker Adrian Flavin both notched two tries.
Other tries came from Fionn Carr, John Muldoon, Niva Ta'auso, George Naoupu, Conor O'Loughlin and Bernie Upton.