Los Angeles County prosecutors filed the charges, which also included two counts of attempted murder, against Eric Holder, 29. He was to appear in a downtown courtroom Thursday afternoon, two days after his arrest at the conclusion of an exhaustive manhunt. It is not clear whether Holder has an attorney.
Authorities say Holder and Hussle, who knew each other, had several conversations Sunday outside the rapper's South Los Angeles store.
They say Holder eventually returned with a handgun and shot Hussle, who was declared dead at a hospital. He also wounded two other men during the attack, authorities said.
If convicted, Holder faces a potential life sentence.
In 2012, Holder pleaded no contest to possession of a loaded firearm and was sentenced to six months behind bars and three years' probation. The case filed Thursday includes a charge that he was a felon in possession of a gun during the attack on Hussle.
Police declined to elaborate on the relationship between Hussle and Holder or the nature of their alleged dispute on the day of the shooting.
Hussle, whose real name was Ermias Asghedom, was a Grammy-nominated rapper. He was also a beloved figure in the community that he was seeking to rebuild, starting with his clothing store. And he earned widespread praise for his philanthropic streak.
Hussle had success in hip-hop's inner circles for 10 years through his coveted mixtapes. Last year he broke big with his major-label debut album, "Victory Lap," which was nominated for a Grammy.
On Tuesday, Hussle's longtime girlfriend, Lauren London, with whom he had a 2-year-old son, paid tribute to the late 33-year-old artist, who also had a daughter, Emani Asghedom, from a previous relationship.
"I am completely lost. I’ve lost my best friend. My sanctuary. My protector. My soul ...” London wrote in an emotional tribute.
Fox News Katherine Lam and The Associated Press contributed to this report.