Try the following:
Paint textPaint = new Paint();
textPaint.setTextAlign(Paint.Align.CENTER);
int xPos = (canvas.getWidth() / 2);
int yPos = (int) ((canvas.getHeight() / 2) - ((textPaint.descent() + textPaint.ascent()) / 2)) ;
//((textPaint.descent() + textPaint.ascent()) / 2) is the distance from the baseline to the center.
canvas.drawText("Hello", xPos, yPos, textPaint);