Semret, 55, was found stabbed to death in an alley near Cabbagetown in October of 2012.
The jury came back from deliberations within four hours with a guilty verdict. Sentencing will commence on Friday.
Zekarias and Semret are both Eritrean refugees, and Semret had once been helping Zekarias with his English.
Some information, however, was not allowed to reach jury members before making their decision on Tuesday.
Zekarias, 43, has been charged in another murder. Details about the other charge came out in an investigation led by police homicide Det. Gary Giroux.
He questioned Zekarias on September 30, 2013, about 11 months after Semret's death.
Zekarias to stand trial in second murder soon
What the jury in this trial didn't hear is police linked that DNA to another murder, that of 28-year-old Rigat Ghirmay.
Her remains were found in a duffle bag in Toronto's west end about six months after Semret was killed. Some remains are still missing.
Police charged Zekarias with Ghirmay's murder.
Police said they had a relationship, and Ghirmay accompanied Zekarias to the hospital to have his injuries treated just hours after Semret was stabbed to death.
Police believed Zekarias killed Ghirmay because she knew he killed Semret.
Even as the jury in this trial finds Zekarias guilty of murdering Semret, he'll be back in court next spring to be tried for the death of Ghirmay.