Prince Turki bin Saud al-Kabir had pleaded guilty to shooting Adel al-Mohaimeed after a brawl, the ministry of interior said in a statement on state news agency SPA.
Reuters said it did not say how the prince was killed. Most people executed in the kingdom are beheaded with a sword.
Members of Saudi Arabia’s ruling family are only rarely known to have been executed. One of the most prominent cases was Faisal bin Musaid al Saud, who assassinated his uncle, King Faisal, in 1975.