Djokovic will be the fresher man and, after a relatively lean second half of the year, would love to snatch back top-dog status with a fifth consecutive title in Murray's backyard.
For organisers of the flagship event it is the dream scenario. It is the first time the final match of the season will decide who is ranked No.1.
"This has never happened," said the Serb who has beaten Murray in five of their seven grand slam finals, including in Australia and France this year.
"I'm privileged to be part of history. This is one of the biggest matches we will ever play against each other."
Whatever lies in store it will struggle to surpass the adrenaline-fuelled drama provided by Murray and Raonic.
The Scot was outplayed at times by the powerful 25-year-old Canadian who, apart from a two-game dip that cost him control of the match in the second set, was relentless.
Raonic led by a set and a break, twice broke serve to stay alive in a gripping decider, then saw a match point come and go in the tiebreak as he, like everyone recently, found Murray an impossible riddle to solve.
Murray looked out on his feet at times but scratched and clawed his way to a 77th win of a remarkable year on his fourth match point when Raonic netted at 10-9 in a tense tiebreak.
"It wasn't just physically hard, it was mentally a tough match. It was pretty stressful," the Scot said.