Additional District and Sessions judge Lahore Naveed Iqbal handed down death sentence to Liaquat Ali after the prosecution produced evidence and witnesses against him.
Ali, a resident of Mughalpura area of Lahore, was arrested in 2012 on the complaint of an area prayer leader.
The court acquitted co-accused Abdul Shakoor on the benefit of doubt.
There has been a rise in blasphemy cases in the country.
Punjab Governor Salmaan Taseer and Federal Minister for Minorities Shahbaz Bbhatti were also assassinated after they were accused of raising voices against Pakistan's controversial blasphemy laws.