The Serbian star, also the tournament winner in 2007, won for the first time since the ATP Masters stop in Miami four months back.
Djokovic was coming off a third-place finish in the Olympics.
"The losses I had in the Olympic Games gave me even more desire to come here and perform my best and try to win a title," Djokovic said. "I am very happy to be in this position. I truly did not expect to win this tournament after the emotional losses in the Olympics.
"I really took it hard and tried to bounce back and recover. And I've done great, I have to say."
Gasquet, the 14th-seed Frenchman, was making his first Masters 1000 finals appearance since losing to Roger Federer in Toronto in 2006.
"It was a long time since I play a final at this kind of tournament," Gasquet said. "It's tough when you have Djokovic in front of you and are not playing your best tennis. It's very difficult. He played much better than me for sure."
The final was played in clear conditions at Rexall Centre after a week of frustrating rain disruptions. Djokovic, among other players, was forced to play twice Friday and had his semifinal against countryman Janko Tipsarevic delayed twice and pushed into late Saturday night.
"The rain delay and interruptions weren't making my life easy that's for sure," Djokovic said.
His patience was tested, and he went as far as to suggest Rogers Cup organizers consider some kind of cover for the stadium court. However, in the likely scenario they don't listen, it won't deter Djokovic from returning to defend his title.
"I will be coming back, definitely," he said. "That was just a suggestion from a player's perspective considering the last couple of days."