Djokovic saved a fifth match point but Thiem finally got the job done when he forced his opponent to float a defensive forehand over the baseline.
Before the tournament, top seed Djokovic declared the three should be favourites to win the Slams, and Federer agreed when asked after his Evans match.
'The Laver Cup next week in London will be my final ATP event. I will play more tennis in the future, of course, but just not in Grand Slams or on the tour.'
The British number one will play Croatian Donna Vekic, 7-6(5), 3-6, 7-6(4) victor over Czech Lucie Safarova in the day's second semi-final, in the climax to the Wimbledon warm-up tournament on Sunday.
It is the first time the final match of the season will decide who is ranked number one.
Kei Nishikori exacted a measure of revenge against Marin Cilic when the Japanese world number five overcame the Croatian in the semi-finals of the Citi Open.
Novak Djokovic maintained his unbeaten record against Frenchman Gael Monfils with a 6-3, 6-2 win in the semi-finals of the Rogers Cup in Toronto on Saturday, while Japan's Kei Nishikori also reached the final after beating Swiss second seed Stan Wawrinka.
Novak Djokovic said his rivalry with Carlos Alcaraz was becoming like the one he shared with the Spaniard's compatriot, Rafa Nadal, after needing nearly four hours to outlast the 20-year-old world number one in an epic Cincinnati Open final on Sunday.
Nadal's participation in the season-ending Tour finals hung in the balance when the Spaniard pulled out of the Paris Masters
The 33-year-old left-hander from Luxembourg had lost all five of his previous tour finals but prevailed at the sixth attempt in the Australian Open warm-up event at the Olympic Tennis Centre.
Olympic athletes, Posh Spice and Andy Murray honoured in Queen's New Year List.
Novak Djokovic's star still burns bright as he returns to Melbourne Park in search of a record seventh Australian Open title.
Italian top seed Matteo Berrettini marked himself down as a genuine Wimbledon threat after beating Britain's Cameron Norrie 6-4, 6-7(5), 6-3 to win the Queen's Club title on Sunday.
South Korean tennis player Hyeon Chung will be a star attraction at the second edition of Tata Open Maharashtra beginning in December.
Two-time champion Novak Djokovic thumped Spain's David Ferrer 6-4, 6-2 to march into the last four of the Shanghai Masters on Friday and set up a semi-final showdown with third seed Roger Federer.
'Everybody knows that they could wait a little bit, no? It was an unfortunate decision.'
Spanish teenager Carlos Alcaraz won his second ATP Masters 1000 title at the Madrid Open after defeating defending champion Alexander Zverev 6-3, 6-1 in front of his home crowd on Sunday.
Thiem, Wawrinka stay positive after defeats on return
Roger Federer bounced back to form with a quick-fire win over Mikhail Kukushkin of Kazakhstan on Tuesday as he began his bid for a seventh title at his hometown tournament in Basel.
After winning the Asian Games mixed doubles gold, Indian tennis' newest star sets sights on breaking into the top 100.
Former world number one Andy Murray won his first ATP tour singles match in nearly nine months with a 6-3, 6-7(6), 6-1 victory over American Tennys Sandgren in the opening round of the Zhuhai Championships.
The 18-year-old Rune broke world number three Zverev four times in a flawless performance for his first win over a player in the ATP top-10
18-year-old Carlos Alcaraz earned his first ATP Masters 1000 crown
Former champion Janko Tipsarevic has confirmed his participation for the USD 450,000 Aircel Chennai Open to be held here from January 5 to 11.
U.S. Open champion Marin Cilic is a firm believer in the new International Premier Tennis League (IPTL), insisting the four-city mixed team tournament is a perfect addition to his preparations for the new season.
Stanislas Wawrinka survived a second-set wobble to beat Jo-Wilfried Tsonga 6-1, 3-6, 6-3, 6-2 and give Switzerland a 1-0 lead over hosts France in the Davis Cup final on Friday. In the second match, Gael Monfils rose to the occasion as he upset Roger Federer 6-1, 6-4, 6-3 to help France level.
A summary of sports events and sports persons, who made news on Saturday
The Association of Tennis Professionals (ATP) has recognized the French Open semi-final encounter between Rafael Nadal and Novak Djokovic as the "Best Grand Slam Match of the Year".
World No. 1 Novak Djokovic has applied for special permission to enter the United States to participate in the ATP Masters 1000 events.
Muguruza seals semi-final berth, Pliskova beats Krejcikova at WTA Finals.
A soccer friendly between Belgium and Spain scheduled for Brussels on Tuesday has been postponed for security reasons after the Paris attacks, the Belgian soccer federation said in a statement.
Roger Federer produced a vintage performance to crush Richard Gasquet 6-4, 6-2, 6-2 and seal Switzerland's maiden Davis Cup title with a 3-1 win over hosts France on Sunday.
A summary of sports events and sports persons, who made news on Saturday
The seventh-seeded Bulgarian advanced to his eighth ATP World Tour Masters 1000 quarter-final with a 6-3, 7-5 victory over Del Potro, who struggled with the intense heat in the closing stages of the one hour, 39 minute match.
The upcoming Chennai Open has been robbed off some of its sheen with defending champion Janko Tipsarevic on Wednesday withdrawing from the country's premier tennis event owing to a foot injury.
An FFT statement said it had consulted with the ATP, WTA and International Tennis Federation (ITF) to allow the Roland-Garros showpiece the benefit of an extra week.
Images from Day 8 of the 2022 Australian Open at Melbourne Park on Monday.
Tennis's flagship team events the Davis Cup and Fed Cup Finals have been postponed until 2021 because of the COVID-19 pandemic, the International Tennis Federation (ITF) said on Friday. Professional tennis has been suspended since March and will not return until August.
Earlier, title holder Borna Coric beat American Sebastian Korda 7-6 (5), 6-4, while another home hope Taylor Fritz survived a first-set thriller to beat Czech Jiri Lehecka 7-6 (14), 6-2.
'The fact that I wasn't playing for several months beginning of last year allowed me to really get together with my team and work on my body, on my strokes, which has later helped me to achieve some great results.'
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