The third-seeded Swiss great, trying for a record eighth Wimbledon title, systematically dismantled Raonic in quarter-final action at the All England Club on Wednesday with a 6-4, 6-2, 7-6 (4) victory.
Novak Djokovic is considering a break from tennis, with surgery on his injured right elbow now a possibility. The rest of the field is mostly longshots, though Croatian Marin Cilic has +400 odds.
Federer, who took six months off after losing in the semis a year ago, broke in the next game and the end came quickly as he held serve at 5-4 to seal his 90th win at the All England Club.
"You have to make sure you average is as high as possible every day and I think I'm doing a great job this week".
Federer defeated Berdych 7-6 7-6 6-4 in the second semi-finals.
"The courts are not great this year and numerous players feel the same".
He said the experience of coming so close to beating Federer at Wimbledon would stand him in good stead in this year's final.
Querrey, the world number 28, is through to his first grand slam semi-final in 43 attempts and concedes that he had not expected to go so far. "But as I've said, it was only getting worse", Djokovic said. "Am I surprised? Maybe a little bit".
While Raonic failed to reach a second straight Wimbledon final, he does leave the tournament with his health.
Roger Federer admits even he is surprised at his remarkable return to form but stopped short of saying he is playing the best tennis of his career.