Murray will top the ATP standings next week if he can win the Paris Masters and Djokovic fails to make the final in the French capital.
However, Djokovic has said that the scenario has left him driven to return to form at the final Masters Series event of 2016.
The 29-year-old is quoted by BBC Sport as saying: "It makes me want to go on court and fight for every point because there is something to win at the end.
"I have been in these particular situations before in terms of ranking, so I know what to do, and I just keep things very simple."
Djokovic has held the position of the world's best player since July 2014 - a streak currently lasting 122 weeks.