Djokovic, 31, saw off Kevin Anderson and Alex Zverev on his way to the final where he faced surprise package Coric.
The hugely promising 21-year-old had knocked out Juan Martin del Potro and Roger Federer in the opposite side of the drawer but had no answer to Djokovic.
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Djokovic continued his remarkable record of not dropping a serve once all week, becoming just the third player to win a Masters 1000 event without getting broken once.
In the second set Coric battled hard to stay in the game, saving three match points at 5-4, helped by a woeful smash from Djokovic.
However Djokovic served out and he has now won 18 matches in a row and will rise to No 2 in the world.
He is also breathing down Rafael Nadal's in the race for No 1 with just 215 ranking points separating the pair.
"I was saying before that I have never played on faster courts here in Shanghai, so this year more than ever I needed a lot of success with the first serves in."
"Obviously the last three, four months have been terrific for me," Djokovic added.
"Not many holes in the game in general, especially this week. Everything worked perfectly."
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