It still uses MCTS as its search algorithm. It no longer uses random rollouts as part of the evaluation, though. (Previously it was rollouts/2 + value_network/2)
Without that, it is simply a tree search.
Excerpt from the paper:
> [AlphaGo Zero] uses a simpler tree search that relies upon this single neural network to evaluate positions and sample moves, without performing any Monte-Carlo rollouts.
This was... unexpectedly good.
It effectively reduces the branching factor of Go from the number of moves available, to the number of moves actually worth considering.