48-year-old Timothy Daniel Jones was one of four sex offenders who walked away from their respective halfway houses last May.
Police tracked Jones to a rooming house in the city's Downtown Eastside, on Tuesday. Jones has three prior convictions for sexual assault against teenaged and adult women.
Another convict still at large
A fourth convict, 46-year-old Gerald Richard McLean, is still at large.
McLean was previously convicted of sexually assaulting a teen in 1995, and a child in 2000.
Const. Brian Montague said he believes McLean has left British Columbia's Lower Mainland.
"It's very unusual that we haven't been able to find someone after … a little over two months," Montague said. "We expect that eventually he'll be captured."
Anyone with information on McLean's whereabouts are asked to contact the Vancouver Police Department.