The body of 35-year-old Jermaine Williams was found wrapped inside a blanket in the public park with multiple gunshot wounds, The New York Daily News reported Saturday.
The discovery of Williams' body on Wednesday marked the second Rhymes' bodyguard to be killed during the last two years, the newspaper said.
In 2006, bodyguard Israel Ramirez was shot multiple times while standing near the rapper during a video shot in New York. The homicide remains unsolved.
Rhymes released a statement through his lawyer Friday regarding Williams' death, saying the bodyguard's death was a "great loss."
"We have all suffered a great loss and Jermaine Williams will be deeply missed," Rhymes said.
The Daily News said no arrests have been made in the case since the body was found.