Muhidiin Ahmed-Farah, 28, was identified through surveillance video police obtained from inside the Birks store.
Police said four men entered the business in the 100 block of 3rd Avenue South brandishing crowbars. They caused extensive damage inside the store and stole a large quantity of Rolex watches along with other jewellery.
A burned-out van was found ninety minutes after the heist in the area of Bottomley Avenue and Osler Street. Police have confirmed the two incidents are related and believe the van was the getaway vehicle.
Police area also looking for the driver of the van who's being considered as the fifth suspect in the case.
Officers executed a search warrant at an apartment on the east side, where they found some of the clothing the suspects wore during the robbery.
Ahmed-Farah, who is from Quebec, is facing several charges including: armed robbery, wearing a disguise in the commission of an offence, conspiracy to commit arson and breach of undertaking in Montreal.
He is described as six-feet tall, and weighing 174 pounds. He has brown hair and brown eyes.
A second video was obtained from the building where the apartment was searched showing a man police say is Ahmed-Farah, along with other men that police believe are the other suspects in the robbery.
Police are asking anyone with information about the incident or the suspects to contact them.