The resilient Russian, seeded third, found himself in a precarious situation on Rod Laver Arena but fought back from two sets down to claim victory with a scoreline of 5-7, 3-6, 7-6 (7/4), 7-6 (7/5), 6-3 after an intense four hours and 18 minutes.
Medvedev, known for his never-say-die attitude, previously reached the final of the Australian Open twice, losing to Novak Djokovic in 2021 and Rafael Nadal the following year.
The journey to another final has been arduous for the 27-year-old, as he battled through two four-set matches and a pair of five-set battles prior to his clash with Zverev.
However, once again, Medvedev displayed his incredible stamina, wearing down the sixth-seeded German to keep his dreams of winning a second Grand Slam title alive, following his triumph at the 2021 US Open.
Reflecting on the match, Medvedev admitted feeling "a little bit lost" during the opening two sets. However, his determination kicked in, and he told himself that even if he were to lose, he wanted to be proud of his effort.
"I want to fight until the end, fight for every point," said the 27-year-old, who has reached six major finals in his career. "And I managed to win, and I'm very proud."
The match began with both players serving flawlessly, but Medvedev's two double faults offered Zverev the opportunity to secure the first break. Zverev capitalized on the Russian's unforced errors to build a commanding 4-1 lead.
Gradually, Medvedev raised his intensity and managed to break back, leveling the set at 5-5. The match then transformed into a baseline battle. Zverev, however, claimed the crucial break to serve for the set and eventually took it after a grueling rally of 51 shots and another of 40.
Zverev carried his momentum into the second set, breaking Medvedev once again and dictating the rallies. As the Russian's resolve waned, the German comfortably held on to take a two-set lead.
In the third set, Medvedev altered his positioning on the court, moving closer to the net, which allowed him to adopt a more aggressive style of play. The change paid off as he secured the set in a tiebreak.
The fourth set followed a similar pattern to the previous one, with both players evenly matched. Another dramatic tiebreak ensued, with Zverev faltering on his serve, just two points away from the final.
Zverev displayed frustration as he saved two break points in the fifth game of the deciding set, but ultimately succumbed to a netted forehand on the third break point. Medvedev took a crucial 3-2 lead and confidently held his serve, leaving Zverev with no way back.
It was an incredible comeback from Medvedev, showcasing his unwavering determination and resilience on the court. He now stands just one victory away from claiming the Australian Open title.