The photographs of Machendranath alias Pratibhanand were released late in the evening.
Police said he hails from Beed in Maharashtra and is 48 years old.
Purushottam Rana and Sunil Mann, the alleged shooters, had told police that the spiritual guru had given them the contract to kill Bhardwaj.
Bhardwaj was shot dead in his farmhouse in south Delhi's Rajokri on March 26 and four persons were arrested in the case.
Bharadwaj had contested the 2009 Lok Sabha elections on a BSP ticket from West Delhi constituency but lost to Congress' Mahabal Mishra. He also ran a school in Dwarka - Shiksha Bharti Public School.
Bharadwaj, was into education, hotel and real estate business and had declared assets worth around Rs 600 crore in 2009.