Captaining the side in this tournament, the 33-year-old made 108 ensuring his side eased to victory chasing down ZimbabweÃ¢â‚¬â„¢s 199.
Sri Lanka, winning the toss choosing to bowl soon placed the hosts on the back foot. Masakadza again went early as Nuwan Kulasekara and Dilhara Fernando caused early problems.
Brendan Taylor, who scored 276 runs in four games to unexpectedly take his side to the final, could not continue his form and departed for just 19.
Tatenda Taibu with a 93 ball 71 steadied the ship and Greg Lamb supported well with 37 but recalled spinner Ajantha Mendis soon got to work with the older ball, taking out the middle order with 4-44 as Zimbabwe folded to 199 all-out.
In reply the Sri Lankan opening pair of Tharanga and Dilshan dominated from the off.
The seamers were easily dealt with and the introduction of spin, Zimbabwe’s trup card throughout the tournament, was unsuccessful.
With the score at 160, Cremer and Taibu combined to run out Tharanga for 72 but Chandimal came to the crease and along with Dilshan guided Sri Lanka home with no further loss, to secure the win.
Despite their defeat Zimbabwe will be delighted with their performances in the tournament as they continue to rebuild their reputation under English coach Alan Butcher.
MORE: The latest football news
MORE: The latest tennis news
BIOGRAPHY: Nemanja Matic
BIOGRAPHY: Jesse Lingard