Murray lost all four previous Aussie Open finals he has advanced to, and Djokovic is a five-time champion.
"Five finals is a great achievement. You can't take that away from me," Murray said. "So I have to be proud of that achievement.
"Doesn't matter what's happened in the past. What matters is what happens Sunday."
Murray pulled away from Raonic in the fifth set Friday, winning 20 of 25 points to go ahead 4-0 before taking the decider 6-2.
The difference was Raonic made 78 unforced errors to Murray's 28 in the four-hour match.
Raonic was bothered an upper right leg injury late in the third set that needed a timeout, and in the fourth set had work done by a trainer.
"I couldn't push off, I couldn't get up to serve, and I couldn't change direction," Raonic, who was playing in the semifinals of a Grand Slam for the second time, said. "Probably the most heartbroken I've felt on court."
Now Murray has his work cut out for him in the final against Djokovic.
"I need to keep my game plan very well, not have any lapses in concentration and just play the best I can," he said.
Elena Vesnina and Bruno Soares beat Ivan Dodig and Mirza in the mixed doubles semifinals.