City resident Brandon Williams, 29, was found with a gunshot wound to the head that police believe was self-inflicted.
Investigators say his gun, a black Glock model 17, was recovered.
The officer was treated and released for a gunshot wound to his right hand, and officials are crediting his bulletproof vest with protecting him from a more serious injury.
A Philadelphia Highway Patrol officer was shot on Tuesday night by a suspect who allegedly fled a traffic stop. He has since been released from the hospital.
According to Police Commissioner Kevin Bethel, two officers in the 39th police district attempted to pull over a car shortly before 9 p.m. on the 200 block of Lehigh Avenue.
Police say Williams fled the scene but crashed near North 23rd Street.
Bethel said two Highway Patrol officers were in the area and tried to intervene when the gunshots rang out.
Investigation underway after police officer shot in North Philadelphia
"That male then turned and fired multiple times. They struck the windshield of the highway vehicle and then struck my officer in his right hand. We believe, through looking at his jacket, he took a gunshot to his jacket but did not penetrate," added Bethel.
The injured officer, a 38-year-old man who joined the force in 2016, was taken to Temple University Hospital by his partner.
Update on officer shot in North Philadelphia
"I'm really glad to report that our officer is doing well. He has roughly close to 10 years on the job," Bethel noted.
As additional officers arrived at the scene, Bethel said Williams opened fire again, hitting the hood of a 39th district police vehicle. No other officers were struck.
Williams was later found dead.
Sources say no officers fired their weapons during the incident.
FOP President Roosevelt Poplar said this could have been much worse, saying the injured officer is a hero
"Once we got there and we could see the officer was up and talking and in good spirits it was a total relief," said Poplar.
Bethel and Mayor Parker applauded the officer's service to the city.
"Once again, the City of Philadelphia is grateful for those who do this on a daily basis. They leave out of their houses, and they don't know what they are going to encounter on the job. They put it on the line to protect and serve the City of Philadelphia and I am grateful," Bethel said. "It is because of their work that we work to put the public safety of Philadelphia our number one priority."