"It has been a devastating night. We are sad to report a fifth officer has died," the Dallas Police Department wrote on Twitter.
The suspect involved in the standoff has also died from self-inflicted gunshot wound on Friday.
City Police Chief David Brown said two gunmen shot at "police officers from elevated positions during the protest/rally", sparking an intense search for at least two suspects, adding that they had threatened to plant a bomb.
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Earlier, the Dallas Police Department tweeted a photograph of a man dressed in a camouflage shirt with an assault rifle slung over his shoulder.
"This is one of our suspects. Please help us find him!" the police department tweeted.
https://twitter.com/DallasPD/status/751262719584575488
The suspects "have threatened to plant a bomb in the downtown area," Brown told reporters.
The protests were part of demonstrations taking part in several cities against the fatal police shootings of African American men in Minnesota and Louisiana this week.
Brown initially said two of the officers were in surgery and three were in critical condition. The condition of the other officers was unclear.
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An earlier toll had 10 officers shot, including three dead. Brown told reporters a civilian was also wounded.
"An intensive search for suspects is currently under way. No suspects are in custody at this time," Brown said in a statement.
Brown said police had "cornered" one of the suspects, and warned that there may be more than two suspects.
Dallas police has reached out to federal law enforcement agencies for help -- the Federal Bureau of Investigation and Bureau of Alcohol, Tobacco, Firearms and Explosives.
Update: pic.twitter.com/qBJe3q0EtN
— Dallas Police Dept (@DallasPD) July 8, 2016
Several hundred people attended the Dallas rally, which ended just before the shots rang out around 9:00 pm, reports said.
Witnesses reported hearing dozens of gunshots that sounded like semi-automatic rifle fire. "The shots were coming from the roof," a protester told KTVT television, a CBS affiliate.
Video posted online showed protesters marching when the shots rang out, scattering the crowd.
Police warned protesters to flee the area, saying the scene remained an active-shooter situation.
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SWAT teams were deployed to the scene, reports said.
White House says Obama briefed on Dallas shooting
US President Barack Obama, who is attending a NATO summit in Warsaw, has been briefed on the killing of police officers in Dallas during a protest against police shootings of black men.
"The president has been updated on the shooting of police officers in Dallas. He asked his team to keep him updated on the situation as they get additional information," White House spokesperson Josh Earnest said.
'I wanted to kill white cops'
The suspect in the Dallas police sniper attacks told negotiators that he wanted to kill white people, especially white cops, after a recent spate of US officer-involved shootings of black men, the city's police chief said Friday.
Chief David Brown appealed for unity in the wake of the attacks, which left five police dead and nine wounded -- seven of them cops -- saying, "This must stop -- this divisiveness between our police and our citizens."
The suspect was killed by an explosive device detonated by police during a tense standoff after Thursday night's shooting rampage during a protest over the fatal police shootings of two black men this week in Louisiana and Minnesota, Brown said.
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