Going into the competition, GB's Tonia Couch and Lois Toulson had a realistic chance at a medal, hoping to improve their team's disappointing haul in the first four days of the games.
Scoring 50.40 to place fourth after the first dive, China led the way but there was little between the remaining pack.
Chen Aisen wins gold for China in men's 10 metre platform
Scoring the same on their second dive, GB dropped to fifth but followed up with a strong 75.6 putting them very much in contention for a medal.
After the fourth round the GB duo were just five points off third place as they dived with back 2 1/2 somersaults, 1 1/2 twists with pike.
However, as they launched into the oddly green pool (compared to the azure blue it had been the night before) with an inward 3 1/2 somersault, it was not enough to overcome pressure from Canadian duo Meaghan Benfeito and Roseline Filion who eventually took bronze.
1. Chen Ruolin/Liu Huixia (China) 354.00 points
2. Cheong Jun Hoong/Pandelela Rinong Pamg (Malaysia) 344.34
3. Meaghan Benfeito/Roseline Filion (Canada) 336.18
4. Kim Kuk Hyang/Kim Mi Rae (DPR Korea) 322.44
5. Tonia Couch/Lois Toulson (Britain) 319.44
6. Paola Espinosa Sanchez/Alejandra Orozco (Mexico) 304.08
7. Amy Cozad/Jessica Parratto (U.S.) 301.02
8. Ingrid Oliveira/Giovanna Pedroso (Brazil) 280.98
Daley qualifies in style for 10m platform final
China's Ren, 15, takes gold on 10m platform