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The suspect has been identified as Zubair Qadri, Inspector General (IG) Kashmir Swayam Prakash Pani said at a hurriedly called press conference.
He said Qadri was seen in the video stealing the pistol of the PSO who was shot dead along with Bukhari.
“The pistol has since been recovered and he is being questioned about his presence at the scene of the crime. So far, he has not been able to give any convincing answers,” he said.
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Pani also described the killing of the journalist as a “terror attack”.
The identity of the other three attackers was being ascertained, the police official said.
Bukhari, 50, was gunned down yesterday evening soon after he got into his car from his office at Press Enclave in the city centre, Lal Chowk.
His two personal security officers were also killed.