Azarenka, the current world No. 1, knocked off fourth-seeded Agnieszka Radawanska in their semifinal match 6-3, 6-3, and will face Williams, who takes over the top ranking on Monday.
Williams, the second seed in the high-priced event, beat Maria Sharapova 6-3, 6-2 in their Saturday match. Williams earned the new No. 1 ranking on Friday with a win over Petra Kvitova in the Qatar quarterfinals.
Williams is 11-1 in career against Azarenka and is the reigning Wimbledon and U.S. Open champ.