According to the LAPD official Twitter account, the player shot a gun at the police that also fired back in response.
The 6-foot-8 Sylmar native as a sophomore at UCLA was named the team's co-MVP and was a first team Pac-10 player before declaring for the 2011 NBA Draft.
Honeycutt then barricaded himself inside the residence in Sherman Oaks. Several residents in the area had been evacuated as a precaution. In the National Basketball Association, he had registered 24 games with the Sacramento Kings.
Honeycutt's family confirmed his death to the the station.
A standoff lasting until the early hours of Saturday morning ended shortly before 4 a.m., when officers entered the home and found Honeycutt dead.
Demarcus Cousins, who played alongside Tyler for the Kings, tweeted, "RIP Tyler Honeycutt..."
The man, who has not been identified, was reportedly behaving erratically when his mother called the police for assistance with him late Friday afternoon, according to ABC 7.
He had been playing overseas since 2013. All morning, friends, family and fans took to social media to mourn the former Bruin. Honeycutt was just 27 years old. He spent the final four years of his career playing with various European teams in two stints with the Khimki club in Russian Federation and a year with the Turkish team Anadolu Efes.
"Hurt by the new, glad no one else was injured, but ultimately sad to say, rest in peace my basketball brother tyler honeycutt", New Orleans Pelicans player Solomon Hill wrote.