Raonic came into the semifinals on a five-match losing streak against players ranked in the top three.
Raonic took the first set from Federer in an impressive 6-3 effort, but with Federer winning the next two sets in a 7-3 tiebreaker and then 6-4, it looked like a familiar story was about to play out.
"I was looking at the centre court as in thank you for the crowd, thank you for the great feeling that you gave me throughout the Championships".
Raonic's serve is his biggest strength, but it simply wasn't enough for the 6-foot-5 Canadian against Murray, who also won the Wimbledon championship in 2013. He said sorry at the net for a couple of lucky moments, to which Raonic replied: "Don't be sorry, it was simply fantastic".
With former world No 1s Carlos Moya and John McEnroe in his support camp, Raonic has no shortage of role models or advice, he just needs to convert that into grand slam success.
He'll play Andy Murray in the final, after Murray took a strong straight-sets win over Tomas Berdych - 6-3, 6-3, 6-3.
Raonic advanced to his first Grand Slam final Friday, beating seven-time Wimbledon champion Roger Federer 6-3, 6-7 (3), 4-6, 7-5, 6-3.
With an entire country behind him, Raonic used his powerful serve and positive attitude to come from two-sets-to-one down and topple the game's most decorated player to reach Sunday's final where he will face Britain's Andy Murray. "This one is going to sting so I'm going to make sure that as long as these courts are green I'll do everything I can to be back here for another chance".
He will face 2013 victor Andy Murray for the title. I'm up there 7-6 and I have a point for 4-1 but I end up getting broken by a close miss.
"I remember when I played Jack Sock in the third round, he messaged me and said, Hey, they want me to call your match". On a little opening I managed to turn it around.
Federer seemed to have all the momentum after winning the third set.
The match turned in the fourth set, as Raonic saved three break points - two in one game to stay ahead 3-2, another with a service victor to hold for 5-4. Though he is most known for his return game, Murray was solid on serve, too, not letting Raonic see a break-point chance until midway through the third set. Just as significant: Murray took 50 of 65 points he served across the first two sets, not only never facing so much as a break point in that span but only once being taken to deuce. "Unexplainable for me, really. I got to carry that through to the next events".
Federer had gone off as the -200 favourite (wager $200 to win $100) on the Wimbledon betting lines.
"I said, "I don't mind at all".
"It doesn't really make a difference by any means", said Raonic, who started working with McEnroe last month before the grass-court season.
WIMBLEDON, England-The headline in the Times of London said exactly what many Brits are thinking: "Finally it's not Federer or Djokovic".