Quebec Provincial Police said on Twitter that they had located Danny Provencal and had set up a security perimeter around him.
An hour earlier, officers said they had detained Benjamin Hudon-Barbeau, the other escapee, along with two other suspects.
The police in the French-speaking province first announced that they responded to the incident at the Saint-Jerome jail, about 50 kilometres (30 miles) northwest of Montreal, around 2:20pm (1820 GMT).
The helicopter was found an hour later with the pilot still on board and uninjured. It was about 85 kilometres northwest of the jail, in the Mont Tremblant area, Canadian media had said.
Radio Canada said Hudon-Barbeau is 36 and has ties to the Hell’s Angels motorcycle club, which is considered an organized crime syndicate, while Provencal is 33.
Media reports suggested that the inmates had held a gun to the pilot’s head. He was taken to a hospital and was being questioned.