Lagan Sharma alias Moni (27) was arrested on Thursday from Haryana border by the South West district police.
A Honda bike and one .32 bore pistol with four live cartridges was recovered from him.
"He was wanted in two cases of murder. In the first case of Chhawla area, he and his associates had killed one Parveen Singhal to rob him. In an another case of Bada Hindu Rao area in north Delhi, the accused along with his associates had killed one Sajjan alias Churi in order to settle scores," said Deputy Commissioner of Police (South West) Suman Goyal.