The suspect, named Dedrick D Williams,22, is facing a charge of first-degree murder.
The 20-year-old rapper, real name Jahseh Onfroy, was shot as he left a motorcycle dealership in South Florida on Monday and later died in the hospital.
Often described as one of rap’s most controversial artists, he quickly rose to fame with two hit albums.
At the time of his death, he was facing trial on charges that he beat his, pregnant girlfriend, Geneva Ayala.
It is not clear whether police are looking for other suspects
Onfroy was leaving the dealership shortly before 16:00 local time on Monday when two men approached him, officials say.
At least one of them shot him before both fled the scene in Deerfield Beach, 43 miles (69km) north of Miami, in a dark-colored SUV.
Video posted on social media apparently showed Onfroy slumped in his car.
Since his death, fans have mourned the rapper on the streets and by listening to his music.
On Tuesday night, Nielsen Music reports that on Monday alone, 33,000 copies of his digital song and album catalog were sold in the hours following his murder outside a Miami-area motorcycle dealership. That’s a jump of 1,603 percent from just one day earlier.