Stanley Owens of the 1400 block of Montgomery in South Memphis was arrested last year after a witness came forward with information about the holdup and killing of Edward Askew.
A Shelby County Grand Jury indicted Owens on charges of first-degree murder in the perpetration of aggravated robbery.
Askew, 47, was killed on Feb. 9, 1990, when a robber came into the Kay-T-Did Liquor Store at 2231 Central Ave.
In a struggle over a .44-cal. handgun, Askew was killed by one shot and Owens was wounded in the thigh by another. He limped away and escaped in a getaway car waiting for him.
Last year a witness notified police that Owens was the shooter and provided details that had not been made public.
Owens was arrested in southeast Memphis and was identified in photo spreads by two witnesses who said he was the shooter.
He also had a circular scar on one thigh consistent with a bullet wound.
Owens is being held in the Shelby County Jail on $800,000 bond.