Lone Wolf bikie Yusuf Nazlioglu, 40, was shot multiple times in the car park of his Rhodes apartment building on June 27 last year and died in hospital.
Strike Force Claypinch detectives charged a 25-year-old man in April over the murder and he remains before the courts.
Police arrested a 33-year-old man during a vehicle stop on Eighteenth Avenue, Austral, just before dawn on Wednesday.
Detectives later executed a search warrant at homes in Austral, Granville and Bankstown, where they seized a number of items, they said in a statement.
The man was taken to Liverpool Police Station and charged with murder.
He has been refused bail and will appear before Liverpool Local Court on Wednesday.
Police will allege in court the Liverpool man was involved in the planning and co-ordination of the incident and investigations under Taskforce Erebus and Strike Force Claypinch are ongoing.
In 2020 a jury found Nazlioglu not guilty of murdering Comanchero boss Mick Hawi, who was gunned down at Fitness First in Rockdale in 2018.
Nazlioglu was accused of being the balaclava-clad gunman, while Jamal Eljaidi was said to be his getaway driver but was also acquitted.
The Crown alleged Nazlioglu was motivated to kill Hawi after the former close friends fell out with the relationship souring during a fishing trip to the Central Coast in the summer of 2016/17.