Best known for his roles in Spike Lee films, Byrd was found dead around 1:45 a.m. on Saturday on the city's southwest side. He had been shot multiple times in the back.
The reward was announced Tuesday. Police have not identified a suspect in the 70-year-old actor's shooting death or said why it may have happened.
Byrd was found shot near his home and died before he could be taken to a hospital. Fox News spoke with Byrd's friend and former representation Craig Wyckoff, who said he was told by mutual friends that Byrd got into an argument at a store before driving home.
The person Byrd argued with followed the actor home, Wyckoff said, and shot Byrd three times in the back, killing him.
Byrd acted in films including “Clockers,” “Chi-Raq,” “Bamboozled,” “He Got Game” and “Da Sweet Blood of Jesus.” Also a stage actor, Byrd was nominated in 2003 for a Tony Award for his performance in the Broadway revival of “Ma Rainey’s Black Bottom,” co-starring Whoopi Goldberg and Charles S. Dutton.
Police ask anyone with information to call them or Crime Stoppers at 404-577-8477 or submit information online at www.StopCrimeATL.com.
The Associated Press contributed to this report.