Eric Holder, 29, is wanted for homicide, the LAPD announced early on Tuesday.
Holder walked up to Hussle and two other men Sunday as they stood outside a business in a strip mall on West Slauson Boulevard, police said in a statement.
He fired multiple times at them and then ran to a nearby alley where a vehicle -- "driven by an unidentified female" -- was waiting for him, police said.
Holder entered from the passenger side and the vehicle fled, authorities said.
Hussle died in the shooting and the two other men were injured and transported to the hospital.
"Detectives have worked tirelessly and are now asking for the public's help in locating the suspect in this case," police said in a statement.
Holder was last seen in a white, four-door, 2016 Chevy Cruze, with the California license plate 7RJD742, the police department said on Twitter.
"Anyone with information related to his whereabouts or this deadly shooting is urged to contact South Bureau Homicide at 323-786-5100."