All-Serbian final for Moscow
Troicki beat French qualifier Jeremy Chardy 6-4 6-4 in the first semi-final, and Tipsarevic prevailed over Russia's fourth seed Nikolay Davydenko 6-2 7-5 in the last match on centre court.
It will be the first time in ATP history that a final will be contested by two Serbs.
"Viktor is one of my closest friends outside of tennis, we know each other's game so well," Tipsarevic said
"I look forward to the final, we will be rivals tomorrow but then it will be back to normal between us."
Troicki confirmed that his love affair for the event in Moscow is only growing.
"I had great support from the crowd once again... it is really special to play here. My father's family is Russian and Moscow is my favourite tournament. Belgrade is great for me too but I have had better results here!" he said.
"I had to play my best tennis to beat Chardy. I knew I had to concentrate on my return games and I was happy I was able to do that. It was tough to break him."