Zverev advances to face the second-seeded and World No. 3 Roger Feder on Sunday.
The stirring comebacks that 18-year-old Shapovalov used to become the youngest player to reach the semifinals of a Masters 1000 Series tournament died out when 20-year-old Zverev proved a little sharper and downed the Richmond Hill, Ont., lefthander 6-4, 7-5 on Saturday night.
Neither player was able to get much going on defense until late in the first set when, with the score tied 4-4, Zverev came up with the first break of the match, giving him a 5-4 edge.
"I'm very excited to be back in the finals", Federer said. He went on to hold and take the first set 6-4.
He inspired. He knows he did.
"Like the media was putting it, it was a dream week for me", said Shapovalov.
"If I would have known I would have gone to the finals, I would have said "yes" right away". It's all about the matches at some stage.
What those people - and everyone who tuned in nationwide - learned about the young phenom is that he has the shots, he has the heart, and he has the potential to reach as high as any Canadian tennis player ever has before him. Double faults closed out all three service games he dropped in the match.
Zverev told Shapovalov during handshakes at the net that the two are sure to meet again and will likely be rivals for many years.
But just as Shapovalov had done all week, he came up with some of his best stuff while his back was pinned firmly against the wall.
The unseeded Haase, during the match on Saturday, gave the second seed a tough battle in the tiebreaker but sealed his fate when he hit a forehand wide on match point.
The six-foot-six German, who plays a near-infallible game, has emerged as a player most in and around the sport expect will one day ascend to No. 1.
Indeed, Shapovalov's run included consecutive wins over 2009 U.S. Open champion Juan Martin del Potro and top-seeded Spanish star Rafael Nadal. Notably, he had decimated Zverev in the final of Halle 6-1, 6-3 earlier this year.
Entering the torunament ranked 143rd, Shapovalov is expected to jump into the top 70 with the four wins he accumulated in Montreal.