In Sunday's championship match, Medvedev will face the winner of Thursday's other semi-final between world number one Carlos Alcaraz of Spain and Italy's Jannik Sinner.

The 27-year-old Medvedev, playing against his boyhood friend, survived a second-set comeback but his trademark precision stroke play saw him through against the big-serving Khachanov in what was an enthralling, high quality encounter.

The contest saw a series of long rallies as Medvedev fended off Khachanov's thumping shots from the baseline and then pinned his opponent back on his service game.

Medvedev hit 13 aces and saved four of six break points as the match turned decisively in his favor when he broke Khachanov in the fourth game of the third set.

Medvedev won 82% (14 of 17) of his first-serve points in the final set and was relieved to have beaten a player who knows his game so well.

"In my opinion, it was a top match," Medvedev said. "In the first set when we lost our serves, it was just a good game from the returner. 

"In the second set, I had one bad game and he won the set. I had one break point, I could have done better. He had a break point in the first game of the third set, I managed to play well. He had one bad game in the third set, I managed to take it and I am really happy to be through. It was a very tough match."

While aware that a very tough test awaits in the final, the Russian said he was capable of beating any player on the tour.

"I have to believe in myself. I know I am capable of winning big titles. I know I can play well and beat anybody," Medvedev said.

"Carlos is on fire right now but you can't win 100 matches in a row. At one moment someone is going to put the water on the fire. It might be Sinner today, it might be me on Sunday, it might be someone else next tournament."

Khachanov said he had played at his best and felt he was a little unfortunate to end up on the losing side.

"To be honest with you, I think it was really one of the greatest matches, I felt from the beginning 'til the end in terms of level, in terms of speed, intensity, attitude, everything," he said. 

"It's maybe a little bit unlucky in a way but of course he deserves totally to win and you know I think both of us really today showed our best. It's a pity that I lost but I'm happy and proud of myself."