Chauvin, 45, has been found guilty of second-degree unintentional murder, third-degree murder and second-degree manslaughter.
Sentencing is due in two months' time, with Judge Peter Cahill saying: "Eight weeks from now we will have sentencing."
The maximum sentence for second-degree unintentional murder is 'imprisonment of not more than 40 years', while the maximum sentence for third-degree murder is 'imprisonment of not more than 25 years'.
The maximum sentence for second-degree manslaughter, meanwhile, is 10 years and/or $20,000 (£14,000).The murder case against Chauvin drew to a close at Hennepin County Court this afternoon after going to jury.
The jury returned to the courthouse at 8am this morning to resume their deliberations, having failed to reach a verdict on Monday.
Of the 12 jurors, six people are black or multiracial, while six are white.
They were first sent to deliberate the case against Derek Chauvin yesterday, following closing arguments from the prosecution and defence.
Judge Cahill told the jury: "The state of Minnesota and the Defendant have a right to demand, and they do demand, that you will consider and weigh the evidence, apply the law, and reach a just verdict regardless of what the consequence might be.
"You must be absolutely fair. Remember that it is fair to find the Defendant guilty if the evidence and the law require it. On the other hand, it is fair to find the Defendant not guilty if you are not convinced of his guilt beyond a reasonable doubt."
After the closing arguments, Cahill rejected a defence request for a mis-trial, based partly on comments by California representation Maxine Waters - who told the media during a demonstration: "We've got to stay on the street and we've got to get more active, we've got to get more confrontational, we've got to make sure that they know we mean business."
Cahill told Chauvin's lawyer: "I wish elected officials would stop talking about this case, especially in a manner that is disrespectful to the rule of law and to the judicial branch."
Prosecutors said that Chauvin had squeezed the life out of George Floyd by pinning his knee against his neck last May, and that he 'had to know' Floyd was dying.
But the defence had argued that Chauvin acted reasonably, and that 46-year-old Floyd died of an underlying heart condition and illegal drug use.
Earlier today, US President Joe Biden said he was 'praying that the verdict is the right verdict'.
Speaking to reporters in the Oval Office, Biden confirmed he called Floyd's family on Monday, adding that he 'can only imagine the pressure and anxiety they're feeling'.
He said: "They're a good family and they're calling for peace and tranquillity no matter what that verdict is.
"I'm praying the verdict is the right verdict. It's overwhelming, in my view. I wouldn't say that unless the jury was sequestered now."