Jackson Mayor Harvey Johnson identified the slain Jackson police officer as Detective Eric Smith, The (Jackson) Clarion-Ledger reported. The dead suspect's name had not been reported.
The newspaper said its sources said Smith was interviewing the suspect when they got into an argument. The man allegedly overpowered Smith, took his weapon and shot him, the sources said. Another officer, whose name was not reported, then killed the suspect, the sources said.
"This is an extraordinarily tragic situation, and it's tough for each of us," Jackson city spokesman Chris Mims told reporters in front of the police department. "Especially today, the Jackson Police Department, who put their lives on the line every day."
The newspaper said the shooting occurred shortly after 6 p.m. local time. Police surrounded and locked down the building.
Chief Rebecca Coleman said officers had arrested the murder suspect during the afternoon "and he was being interviewed on the third floor."
"Later, we heard that shots had been fired, and upon our arrival, we found the suspect is deceased and we have a police officer who is deceased," the chief said. "That's all the information we have at this time."
Mississippi Bureau of Investigation spokesman Warren Strain said the agency was sending its crime scene unit and investigators to the scene.
"It did involve one of their officers, that's why MBI is getting involved," he said.
Smith's wife, Eneke Williams Smith, works for the department, the newspaper said.