The officers were searching for the 23-year-old man, who they considered armed and dangerous. Police found the parolee in the 100 block of West Guinida Lane at about 1:40 p.m.
When officers contacted the parolee, an officer-involved shooting occurred. It was unclear why police opened fire.
The man, whose name has not been released, was rushed to a nearby hospital, where he later died.
The Anaheim Police Department is not releasing any other information on the circumstances regarding the shooting. It is being investigated by the Orange County District Attorney's Office.