McDonnell and his wife were charged in a 14-count indictment with accepting more than $165,000 in gifts and loans from a wealthy Virginia businessman, Jonnie Williams, in exchange for promoting his dietary supplements company.
The jury also found Maureen McDonnell guilty of eight corruption counts against her, in addition to an obstruction of justice charge.
The couple was acquitted of charges of falsifying loan documents.
U.S. District Judge James R. Spencer set the couple's sentencing for Jan. 6.
The McDonnell family was sobbing in the courtroom as the verdicts came down, according to the Post. McDonnell is the first governor of Virginia to be convicted of a felony.
In a statement, current Gov. Terry McAuliffe (D) said that while he was praying for the McDonnell family he was “deeply saddened” by the impact of the ex-governor’s conviction on the reputation of Virginia government.
The jury reached its verdict relatively quickly as jurors deliberated for 17 hours over three days, according to the newspaper. Throughout several weeks of grueling testimony, the McDonnells' defense had sought to portray the couple’s marriage as so strained that the two couldn’t have communicated enough to conspire to promote Williams’ company. But that so-called "crazy wife defense" apparently wasn't enough to overcome the corruption charges.
The Post reported earlier this year that prosecutors had offered the McDonnells a plea deal prior to their indictment in January. Under the proposed plea agreement, the former governor would have faced a single felony bank fraud charge while his wife would have avoided charges altogether.
The governor reportedly rejected that offer, however.
As he exited the courthouse, the former governor told the press "all I can say is my trust remains in the Lord" before getting into a car.
This post has been updated.