The 23-year-old can reach the first Grand Slam final of his career if he defeats the seven-time champion at the All England Club, and he has admitted that he is not fazed by Federer's reputation.
Raonic told reporters: "I've been giving myself the possibility to face these top guys more consistently. I know each time I get closer. I understand more what I need to turn those results around.
"I'm not stepping out today against the seven-times Wimbledon champion, I'm not playing a 32-year-old man, I'm not playing a father of two sets of twins.
"I'm not playing the guy that's won whatever he's won. I'm playing a guy that is standing in the way of what I want to achieve."
Raonic faces Federer on Centre Court later today.