Gasquet could still have denied Ferrer a place in the ATP World Tour Finals next month, but his defeat means Ferrer, along with Japan's Kei Nishikori, complete the eight-man line-up for the season-ending showpiece.
Nadal was a break down in the opening set but hit back from 2-4 to win four consecutive games.
He also trailed 6-4 in the second-set tiebreak before reeling off the last four points.
Standing in the way of Nadal in his 98th career final will be top seed and home favourite Roger Federer who beat American Jack Sock 6-3 6-4 in little over an hour.
Federer is looking for a seventh title in his home city.
Ferrer and Nishikori join three-times defending champion and 2008 winner Novak Djokovic, Andy Murray, six-times former winner Federer, Stan Wawrinka, Tomas Berdych and Nadal in London.
(Reporting by Martyn Herman; editing by Clare Fallon)
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