As a team of law enforcement officers tried to execute the court-ordered warrant involving violent crimes against children at the home in Sunrise, Florida, shots were fired at 6 a.m. EST (1100 GMT), the FBI said in a statement.
The search warrant sought evidence in connection with suspected possession of child pornography, the FBI Agents Association added in a statement.
Piro said two of the wounded agents were transported to a hospital, while the third did not require hospitalization.
The subject of the warrant, who was not identified, also died, Piro said.
The man being investigated had apparently barricaded himself inside an apartment complex and was found dead, the New York Times reported, citing unidentified officials. It was unclear how he died, the newspaper said.
The scene on Tuesday morning near the home in Sunrise, just west of Fort Lauderdale and about 30 miles (48 km) north of Miami, was swarming with emergency and law enforcement vehicles from the FBI and police in Sunrise and surrounding jurisdictions.
Earlier on Tuesday, FBI Director Christopher Wray identified the dead agents as Daniel Alfin and Laura Schwartzenberger and hailed them as heroes.
The shooting deaths, which remain under investigation, were among the bloodiest episodes for the FBI.
GEORGE L. PIRO: This is a very dark day for the FBI. Special Agents Daniel Alfin and Laura Schwartzenberger were shot and killed in the line of duty. Our sympathies are with their families and loved ones. We, the FBI family, share in their loss.
As you may know by now, this morning, agents from this office and officers from other partner law enforcement agencies assembled in Sunrise, Florida to serve a court-ordered federal search warrant for a violent crimes against children investigation. The operation this morning in Sunrise ended tragically with the subject opening fire on the members of the search team.
Five agents were struck by gunfire resulting in the deaths of two agents with the other three agents sustaining wounds of varying severity. Two of the wounded agents, both shot multiple times, were transported to a local hospital. One agent had his wounds treated at the scene. The subject is also deceased. His name will not be released pending notification of next of kin.
The FBI is a family and our chosen profession is fraught with danger. Today, this grim reality has taken two of our best from our family. We are saddened by their loss as we struggle to come to terms with what happened. However, as we grieve their loss, we will continue the mission to protect the American people.