Simon, the No. 4 seed, ousted top-seeded Janko Tipsarevic 6-4, 6-4. He is 4-1 lifetime against Tipsarevic.
Simon dropped just 11 points in 10 service games and saved the lone break point he saw. Tipsarevic fought off eight of 10 of Simon break-point opportunities, including 7-of-8 in the second set. But Simon managed a break in each set and earned a spot in the finals.
The No. 2-seeded Gasquet topped seventh-seeded Jarkko Nieminen 3-6, 7-5, 6-2 for his fourth win over the Finn in five meetings.
Gasquet had five breaks, cashing in all three of his break chances in the second set and two more in the third.
Gasquet is 5-0 versus Simon. He is 6-10 with a three-match finals losing streak, in ATP title matches. His latest championship came in 2010 in Nice, France. Simon is an impressive 10-2 in championship matches. He's won five straight finals, a string that began in 2009 at the Thailand Open.
The Thailand Open champion will take home about $100,000 with the runner-up getting $52,390. Tipsarevic and Nieminen each claimed $28,380 as semifinalists.