Anderson, who reached the final by defeating Spaniard Rafael Nadal in the previous round, had a more reliable serve at the start and didn't lose serve until the 11th game of the second set.
The South African won the first set 6-4, but the 14-time grand slam champion came from behind and took the 2nd 7-5.
In the second set, Anderson required only one break of serve - in the sixth game - to take the set and take the match into the deciding third set.
"It was one of the best match points I have ever played", he said.
Novak Djokovic celebrates winning the World Tennis Championship for a fourth time.
"I suffered a lot in terms of injury".
“Being honest I’m satisfied the way I was playing tennis” said Rafa. “I am more or less satisfied with how the body held,” he added
Anderson who had stated before the Championship began that his primary goal was to play both Nadal and Djokovic to test his game, said: 'I played really good tennis over the last few days.
Nadal admitted that he needed to take it game by game on his comeback, and suggested he would not be pressured into pushing his body too much. There are a few things here and there that I need to work on but pleased with the quality of my game throughout the tournament. I could feel the tension between us, two great competitors.
What does the Russian think of Djokovic's level after he played him in Friday's semi-finals.
The 31-year-old Serb is now six Majors behind Federer and three adrift of Rafael Nadal, but is likely to keep up the pressure on his rivals this upcoming season considering how he recaptured his dominating form in the second half of 2018.
"It was a little bit of risk that we don't make it into the beginning of the season, but here we are, practising more or less hard and we are excited to start the new season", he said.
"I'm happy to be back on court here", he said after the loss.
Breaking Thiem in the very first game of the match, Chung went on to break the Austrian's serve again in the fifth game before finally taking the set 6-2. I am just making sure I am moving forward and it's not a step backwards.
Transformer explosion creates electric blue skyline in NY
People immediately took to social media to post images of the sky across the city illuminated by an eerie blue-green light. Travellers at LaGuardia Airport, which is located in Queens, were treated to potential delays as well as a light show.