It happened at 9:15 p.m. in the 500 block of Skenes Avenue.
Henderson police spokesman Lt. Chris Ball said the officer, whose name hasn't been released, was serving a narcotics search warrant on Skenes Avenue.
Ball said Wesley Taylor, 58, exchanged gunfire with the officer and both sustained injuries.
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Radio calls between officers reveal the moment the officer was shot.
One officer yelled, "We got shots fired. Officer hit. Officer hit. Officer hit. Can you help me?"
"Officer was shot maybe twice, once in the chest, in the back," another said.
Both of the injured parties were taken to Maria Parham Medical Center for treatment.
The officer was treated and later released.
"He is recovering, he has a single gunshot wound. He was wearing a bulletproof vest and that contributed greatly to him not having life-threatening injuries," said Michael Waters, Vance County district attorney.
Taylor died from his injuries.
Taylor's mother told ABC11 the family does not blame police, and she added that they believe he "caused his own death."
She said her son went down the wrong path.
The Highway Patrol is assisting with the investigation. The State Bureau of Investigations has been called in, as is standard in officer-involved shootings.