Fanning has never won at the Pipe Masters, but should he finish on top of last year's world champion Gabriel Medina - who is currently sitting in second place - he will claim a historic win and the world title along with it.
It's a remarkable turnaround for Fanning, who says regardless of what happens, he feels successful having escaped from the potentially deadly underwater encounter earlier this year.
In his first return to the water after the incident, Fanning spotted another shark, but has managed to put the trauma behind him to go on to produce his best form.
"It would obviously feel incredible (to win)," he said. "In saying that, getting out of that situation with the shark in J-Bay without a scratch felt bloody good too.
"No matter what happens with the world title, I'd say I'm winning this year.
"It's all actually really clear. I can remember most of the details but it isn't something I love reflecting on."