A statement from police said 24-year-old Brandon Joyner turned himself in around midday Saturday.
The State Bureau of Investigation says the two men are believed to be armed and dangerous.
An SBI statement says 24-year-old Shuntavius Vaughan of Conway was shot and killed just after midnight Friday.
Authorities are still looking for Rumeal Daye and Akeem Robinson. Both are 24 years old and are from Conway, a small town in the state's northeast. They face multiple charges, including first-degree murder and firearm possession by a felon.