The defending champion advanced with a 6-3, 6-3 victory over Kyle Edmund (GBR) on Friday evening.
World no.1 and five-time champion is a top seed and has a first round BYE. He will open title defence against Kyle Edmund.
Nole dominated from start to finish in a flawless 6-2, 6-0 victory over Raonic, equalling Nadal’s record of winning 27 Masters titles.
Nole reached his sixth BNP Paribas Open final with a 7-6, 6-2 win over Rafael Nadal.
Novak outplayed Frenchman Jo-Wilfried Tsonga 7-6 (2), 7-6 (2) to reach his sixth successive semi-final at the BNP Paribas Open.
The defending champion beat no.18 seed Feliciano Lopez 6-3, 6-3 in 65 minutes on Wednesday to reach the last eight in Indian Wells.
Novak has booked a R4 showdown with no.18 seed Feliciano Lopez with a 7-5, 7-5 win over Philipp Kohlschreiber.
Nole struggled in the early part of the match, but came back to beat Bjorn Fratangelo 2-6, 6-1, 6-2, for a place in the third round.
Novak will begin title defence in Indian Wells in the second round against Bjorn Fratangelo (USA, Q).
The 2010 champions will host 2015 title holders Great Britain in the Davis Cup by BNP Paribas World Group quarter-finals on July 15-17.