Vorayuth Yoovidhya fled Thailand for Singapore at the end of April just before authorities issued a warrant for his arrest after he repeatedly failed to meet with prosecutors.
Thai police spokesman Colonel Krissana Pattanachareon said his department has been notified by the international police network that they have issued a "Red Notice" - a worldwide request to find and arrest an individual pending their extradition.
"We have been informed that Interpol has issued a Red Notice on the Red Bull heir, and we now have to wait to see what kind of responses we get from member countries," Mr Krissana said.
"We have been working on this case and pursuing it using all means, and this Red Notice is what we can do when we believe that it's possible that he is hiding in foreign countries."
Mr Yoovidhya, 32, is the grandson of the Thai co-founder of the Red Bull brand, the world's most popular energy drink valued at £8.7bn.
It is claimed he was driving the Ferrari that struck a policeman who was riding a motorbike as he patrolled a main road in central Bangkok, dragging him under its wheels.
It is alleged the sports car then fled the scene, leaving the police officer dying on the road.
Mr Yoovidhya, known for his playboy lifestyle, has never been charged having failed to keep several appointments with prosecutors to discuss the incident.
Police are said to have followed a trail of oil and break fluid to the Yoovidhya luxury family compound.
The statute of limitations in Thailand is gradually removing the charges Mr Yoovidhya could potentially face as the five-year anniversary of the accident approaches this week.
One potential charge - that of leaving the scene of an accident - will no longer be an option by the end of this week, but the charge of causing death by dangerous driving has another ten years to run before it disappears under the statute.
An investigation by the Associated Press revealed Mr Vorayath is continuing to enjoy his luxury, globe-trotting lifestyle, partying with the rich and famous on the Grand Prix circuit and in upmarket venues in cities including London.
He refused to answer questions on the doorstep when confronted by reporters in London this year.
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