Police say the couple has been on the run for months.
Over the past three months, Hamilton police have worked with investigators abroad to track the couple down, who are now in police custody in Budapest, Hungary. Efforts are now underway to have the suspects extradited back to Canada.
Police said 28-year-old Karafa and 25-year-old Li are the suspects in the murder of 39-year-old Tyler Pratt in Stoney Creek on February 28, as well as the attempted murder of a second female victim, who is still recovering from her injuries.
Investigators said that the couple fled Canada around 24 hours after the murder and were "actively evading police" in Eastern Europe.
"Hamilton Police Service wishes to recognize all the efforts of our policing partners domestically and internationally, specifically, the Hungarian Fugitive Active Search Team (FAST), for the collective efforts that resulted in the arrest of these wanted individuals," HPS wrote.