The Pentagon said the strike had taken place near Raqqa on 7 September.
Fayad was a close associate of IS strategist Abu Muhammad al-Adnani, who was killed in an air strike last month.
"The removal of ISIL`s senior leaders degrades its ability to retain territory, and its ability to plan, finance, and direct attacks inside and outside of the region," Pentagon Press Secretary Peter Cook said in a statement, using an alternative name for IS.
"We will continue to work with our coalition partners to build momentum in the campaign to deal ISIL a lasting defeat."
Mr Cook said Fayad had also been a member of the IS leadership group, the Shura Council.
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Media captionFrank Gardner considers what difference the death of Abu Muhammad al-Adnani will make to so-called Islamic State
Earlier this week, the Pentagon said the chief propagandist for IS - Abu Mohamed al-Adnani - had been killed in an air strike in northern Syria last month.
He was one of the IS group`s most high-profile figures with a $5m (£3.8m) bounty on his head.
The US said he had "co-ordinated the movement of Isil [IS] fighters, directly encouraged lone-wolf attacks on civilians and members of the military and actively recruited" new members.
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