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The Serb also equalled Rafael Nadal's record of 22 Grand Slam singles titles with the win.
Nine-time champion Djokovic will meet third seed Stefanos Tsitsipas in Sunday's decider after the Greek booked his first final at Melbourne Park by beating Russian Karen Khachanov.
Khachanov reached the semifinals after ailing American Sebastian Korda retired while trailing 7-6(5), 6-3, 3-0.
A year after dumping Sinner out in the quarters at Melbourne Park, third seed Tsitsipas crushed the Italian's hopes of a great escape.
Tsitsipas will next take on Italian Jannik Sinner in what could be a tricky test.
Coric signalled his return to full fitness from shoulder surgery and showed that he will be a threat at the US Open.
Petra Kvitova overcame a sluggish start and 10 double faults to beat Madison Keys 6-7(6), 6-4, 6-3 and advance to the women's singles final, where she will face Caroline Garcia, the first qualifier to reach the final of a WTA 1000 tournament.
In the men's section, world No. 1 Daniil Medvedev and fourth seed Stefanos Tsitsipas defused big-serving American threats Taylor Fritz and John Isner to reach the semifinals.
The fourth seed, Tsitsipas, won 6-2 6-3 7-5 on Court One on Thursday.
Djokovic defeated Tsitsipas 6-0, 7-6 for his first title of 2022.