Norman Gray, 25, of Millville, was charged with murder, kidnapping and other charges in the death of 19-year-old Khalil Wallace.
Wallace, of Woodbine, was found in a lake along Dragston Road in Downe Township earlier this month.
Wallace was identified by his fingerprints and suffered at least 1 gunshot wound.
Bail for Gray was set at $1 million. He is currently in prison on a separate parole violation.
19-year-old Boris Curwen and 27-year-old Andre Gross, both of Millville, were previously charged in this crime.
Wallace was a former standout athlete at Millville High and Rowan University.
Described as the devoted father of an 8-month-old daughter, Wallace was last seen on September 20th getting into a van in front of the Dollar Plus Store on Washington Avenue.
Wallace's cell phone was found in Philadelphia. When he disappeared he was awaiting trial on drug distribution charges.