Polk County Sheriff Grady Judd said police shot the man numerous times after finding him in thick brush just before 10 a.m., a day after Deputy Vernon Matthew Williams was killed in a burst of gunfire.
This manhunt started nearly 24 hours ago, reports CBS News' Peter King, and ended when SWAT teams walking shoulder to shoulder discovered their suspect hiding under a large fallen tree.
The suspect was found just about 100 yards away from where Williams was shot, King reports.
The suspect refused to show both hands when officers commanded him to and he appeared to have the .45-caliber weapon that belonged to Williams, prompting the officers to shoot him, Judd said. It was unclear if the man also fired the gun.
Judd said he saw the man's body in the brush and matched it to the photo of the suspect that had been released Thursday. He still did not know the man's name.
"We don't know his name yet," Judd said, "but the guy we shot in the woods is the guy we've been looking for."
"I trust God to be the judge and jury better than anyone on earth," Judd said, adding that Williams' family had been told of the suspect's death.
Officers had used night-vision scopes, tracking dogs, helicopters and door-to-door searches to try to locate the man, who fled from Williams after another deputy, Douglas Speirs, had stopped him for speeding on Thursday, shortly before noon. Residents had been urged to stay inside and some schools were closed as a precaution.
Judd had earlier said the man was from Miami and officials were confident he was involved in drug dealing. Authorities have not yet determined the suspect's real name because he used several aliases, including Alex or Andrew Cloxton, and Angelo Freeland.
The gunman's face was identified by Speirs, who was also shot in the leg moments after Williams was killed.
Williams, 39, probably died instantly and "was shot multiple times. I don't believe he felt a thing," Judd said. Speirs was treated for his injury and released Thursday evening and Judd said Williams' police dog, Diogi, was also killed.
It began as a simple traffic stop, reports CBS News correspondent Mark Strassman, but the suspect got nervous he would be arrested and fled on foot. Speirs pursued him and called for backup. Williams arrived and they began working their way into the woods when the suspect fired, Judd said. Speirs returned fire and was shot.
Hundreds of law enforcement officers from across the state participated in the manhunt, Judd said, with some driving several hours to get to the scene in central Florida, about 35 miles east of Tampa.
Williams had been with the sheriff's office since April 1994. He had a wife and three children. The local Dairy Queen was expecting him to pick up an ice cream cake, Strassman reports. Thursday was his wife's 40th birthday.