The body was found around 9:40 pm as officers performed a welfare check at a home on Samona Street near Gale Hill Avenue.
Lindsay police say the man had been shot several times before he died.
Officers did not find anyone else at the home.
The search for the suspect led officers to Porterville on Tuesday, where Monache High School and Oak Grove Elementary were placed on a lockdown as a precaution.
Porterville's police chief says there was no threat to the schools.
Anyone with information is asked to call the Lindsay Police Department.