The incident happened Jan. 19 near El Camino Real High School in Woodland Hills.
Jeffrey Stenroos, 30, said he was shot by a burglary suspect, prompting a widespread school lockdown. More than 550 law enforcement officers throughout Southern California responded and conducted a 10-hour search, shutting down an eight-square-mile area.
He later admitted to making it all up.
Prosecutors said he is charged with perjury, filing a false insurance claim, preparing a false police report and preparing false evidence.
Stenroos is also charged with a misdemeanor of falsely reporting an emergency.
Los Angeles Police Department Chief Charlie Beck issued a statement saying, "The actions of Officer Stenroos put into motion a series of events that wasted valuable Department resources, negatively impacted thousands of school children and their families, and disrupted the lives of a countless number of people who were inconvenienced by the perimeter set up to catch a suspect who never existed. Officer Stenroos deserves no leniency."
LAUSD Superintendent Ramon Cortines also expressed outrage.
"I hope he gets the book thrown at him," Cortines said. "I feel betrayed. I was out there the whole time. I went to visit him in the hospital."
Arraignment is scheduled for March 23.