The incident involving 26-year-old Angus Mitchell came after Burnaby Mounties issued a warning about the man, who was the suspect in a double murder in a restaurant and the attempted murder of his landlord last year.
Hours after the police warning was issued, a Maple Ridge, B.C., woman recognized the description of Mitchell's van and called 911.
Police surrounded Mitchell's van and he opened fire before being fatally shot by an officer.
Vancouver Police took over the investigation after the shooting, looking into whether the officers involved in the incident were right to use deadly force.
The department's Const. Brian Montague said investigators used a video of the incident filmed from a police helicopter that showed Mitchell opening fire on police before he was shot in return.
"Our investigation showed that there is no evidence to support that there was any wrongdoing on the part of the officers," said Montague.
"There are no charges that will be recommended to the Crown."
After Mitchell's death, RCMP revealed the man had a hit list targeting people, businesses and institutions in the Lower Mainland.
The list had detailed and methodically thought out plans that included escape and attack routes for each target — among his targets were two schools, a group home, a coffee house and a gym.
Sgt. Jennifer Pound, of the Integrated Homicide Investigation Team, said after Mitchell was killed police couldn't put a number to the potential deaths that could have come from Mitchell's plan because many of the venues were highly populated.
Police aren't certain about what could have motivated Mitchell, but officials from the homicide investigation team have said he may have had conflicts with some of the individuals he was targeting.
Mitchell is suspected of killing Huong Tran and Chinh Diem Huyhm, who were found dead in a Burnaby sushi restaurant on May 27, 2012.
Two days later, Mitchell's landlord was shot and badly wounded.
A coroner's inquest around the incident will be held Nov. 5.