The Scot beat Roberto Bautista Agut 7-6 6-1.
Murray is now just 915 points behind the top-ranked Serbian, who lost in a fit of rage to Bautista Agut in the semi-final.
This was Murray’s tenth final of the year and his 41st career win, adding weight to the argument he is playing the best tennis of anyone on the planet right now.
The three-time Major winner said after his sixth triumph of 2016: “The last few months I’ve played very well in all the tournaments.
“I regrouped well after the wobble at the end of the first set. I played a really solid tie-break and second set I started taking a bit more risk and playing the points better.
“I’ve won a lot of matches the last few months and made improvements to my game. I’ve moved forward better, won more points at the net and changed the direction of the ball. Coming up with some bigger serves too.
“But my goal wasn’t to finish No 1 at the end of the year. The early part of next year there’s an opportunity.
“That’s assuming Novak doesn’t win any matches but he will because he’s the best in the world. If he gets fresher, he always finishes the year strong.
“It’s going to be very difficult to do it this year but there’s an opportunity early next year.”
But Greg Rusedski backed Murray to topple Djokovic before the year is out.
He said: “He’s too good a player not to be world No 1 one day. I think he’s going to do it this year, by the end of the season he will be world No 1.”