The two will square off for the eighth time this season after Federer downed David Ferrer 7-5, 6-3 in the day's first semifinal match and Tsonga put up a 6-3, 7-5 win against Tomas Berdych in the other.
It will be the 100th career title match for the Swiss superstar, who is seeking his sixth career win at the season-ending event. It also continues a late-season hot streak for Federer, who took his 16th straight match dating back to a loss to Novak Djokovic in the semifinals of the U.S. Open.
Ferrer fell to 0-12 in his career against Federer, including a loss in the World Tour final in 2007 when it was held in Shanghai.
Tsonga, meanwhile, fired seven aces and won 90 percent of his first-serve points in his triumph over Berdych, who committed 13 unforced errors in the first set and never recovered.