BBC reports that the second seed beat 21-year-old Coric 6-3 6-4 in one hour and 37 minutes to claim his fourth Shanghai title.
And Coric, a semi-final victor against Roger Federer, lost all composure at the start of the second, sending a simple volley well wide of an open court to hand Djokovic another break.
Djokovic, who has returned to his brutal best this season with Grand Slam wins at Wimbledon and the U.S Open, will surpass Federer as world number two when the next edition of the ATP rankings are released on Monday.
The extra 1,000 ranking points help Djokovic break into the world's top two for the first time since June 2017, while he also earned $1,360,560 in prize money for his efforts in Shanghai. The victory also saw him being crowned an ATP World Tour Masters 1000 champion for a 32nd from 46 finals.
"Hello everybody, I don't want to make Borna look bad", Djokovic told the crowd, before speaking in fluent Mandarin.
"This was definitely one of the best service weeks that I've had in my career", Djokovic said.
Coric - who was making his maiden Masters final appearance - could not stop Djokovic in his tracks.
"The success over the last three or four months has been terrific for me. I'm very close to Nadal in the rankings and I put myself in a very good position for the last period of the year." said the 31-year-old. "Not many holes in the game in general, especially this week".
In Tianjin, China, second-seeded Caroline Garcia won her first tournament of the year with a 7-6 (7), 6-3 win over top-seeded Karolina Pliskova in the Tianjin Open on Sunday.
He has been particularly dominant on his serve and did not drop a single service game in Shanghai. "I was playing good, really, I was really happy how I played", he said.
"In the offseason I chose to change my whole team".
"Obviously then I started playing just better and better and that gave me some confidence for later on".