The Swiss top seed got through a perfect week without losing serve to capture his 76th career trophy.
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It was also his 16th win in 28 meetings against world number two Djokovic and it means he will go into the US Open as the clear favourite having become the first man to win five titles at the Cincinnati event.
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"I've had a magical summer (seventh Wimbledon title, London Olympic silver medal). I feel good about New York - but I'm going to savour this one for a bit," said Federer.
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"Even with how well I'm playing you never expect yourself to win these big matches. It's been a great week for me."
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Roger Federeru00a0with the winner's trophy at Cincinnati. Photo: AFP