Patrick Xavier Clark, 33, was arrested Thursday night and charged with murder, HPD Chief Troy Finner said at a news conference.
According to court documents, Clark applied for an expedited passport shortly after the shooting and said he was going to Mexico. He had the passport and a large amount of cash when he was arrested.
Prosecutors want Clark held without bond, saying he is a flight risk.
RELATED: More coverage of TakeOff's death
TakeOff was shot and killed in downtown Houston on Nov. 1 after attending a private party at 810 Billiards and Bowling Alley. Police said the shooting stemmed from an argument over a "lucrative dice game."
"I can tell you TakeOff was not involved in playing the dice game, he was not involved in the argument that happened outside, he was not armed, he was an innocent bystander," HPD Sgt. Michael Burrow said.
He said about 30 people were there when TakeOff was shot.
"Literally, every single one of those people left the scene without giving a statement to police," Burrow said. "It's important that those people come forward."
Mayor Sylvester Turner urged witnesses to come forward.
"I don't give anyone an out. If you were there and you saw something and you know something, you dont' get a pass," Turner said. "There are too many young men, and i'll be even more specific, too many young men of color who are killing other young men of color. And that has to stop, that has to stop"
Finner said he spoke with TakeOff's mother Friday morning to let her know they had a suspect in custody.
"We lost a good man," Finner said. "Everybody, the hundreds of people that I talked to spoke of what a great individual he was."
The 28-year-old and Quavo were at a private party, along with about 40 other people, when shots were fired outside 810 Billiards and Bowling Alley. Police said the party ended around 1 a.m. but the group gathered outside for more than an hour after the party ended.
Just after 2:30 a.m., shots were fired and TakeOff was hit, dying just outside of the bowling alley's doors.
Two other people, a 23-year-old man and a 24-year-old woman were also shot, police said. They drove to hospitals with non-life-threatening injuries.
They have not been identified but police said they have spoken with them to help with the investigation.
Earlier in the week, Cameron Joshua, also known as Lil’ Cam, appeared in court after prosecutors said he was there when TakeOff was killed. He is not charged with shooting the rapper but was charged with two counts of felon with a weapon.
Joshua has a criminal record so he's not allowed to carry a gun.