Adams was indicted Wednesday on charges of especially aggravated kidnapping and first-degree felony murder in Bobo's disappearance, the (Nashville) Tennessean reported.
He remained in jail without bond and will be arraigned Tuesday, officials said.
The announcement was met with surprise, the Tennessean said, because Adams was familiar to many in Decatur County.
"It's somebody that everybody in the county knows, they know his family, they know him," a resident told the newspaper.
Kevin Bromley, a friend of Bobo's parents who has served as the family spokesman, told the Jackson Sun that Adams was not a friend of Holly Bobo and didn't run in her circle of friends.
Bobo disappeared April 13, 2011. She was last seen being led into the woods by a man wearing camouflage.
Authorities would not say whether Bobo's body has been found.
Last week, law enforcement officials searched several properties, including one belonging to Adams, but did not say what led to Adams being charged, the Tennessean said.
Tennessee Bureau of Investigation Director Mark Gwyn said the investigation was ongoing and that there could be additional suspects.
"It's taken us three years to get to this point," Gwyn said. "We can't mess it up now."