Supermassive black hole binaries (SMBHBs) should be an inevitable consequence of the hierarchical growth of massive galaxies through mergers, and the strongest sirens of gravitational waves (GWs) in the cosmos. And yet, their direct detection has remained elusive due to the compact (sub-parsec) orbital separations of gravitationally bound SMBHBs. Here we exploit a theoretically predicted signature of a SMBHB in the time domain: periodic variability caused by a mass accretion rate that is modulated by the binarys orbital motion. We report our first significant periodically varying quasar detection from the systematic search in the Pan-STARRS1 (PS1) Medium Deep Survey. Our SMBHB candidate, PSO J334.2028+01.4075, is a luminous radio-loud quasar at $z=2.060$, with extended baseline photometry from the Catalina Real-Time Transient Survey, as well as archival spectroscopy from the FIRST Bright Quasar Survey. The observed period ($542 pm 15$ days) and estimated black hole mass ($log (M_{rm BH}/M_odot) = 9.97 pm 0.50$), correspond to an orbital separation of $7^{+8}_{-4}$ Schwarzschild radii ($sim 0.006^{+0.007}_{-0.003}$ pc), assuming the rest-frame period of the quasar variability traces the orbital period of the binary. This SMBHB candidate, discovered at the peak redshift for SMBH mergers, is in a physically stable configuration for a circumbinary accretion disk, and within the regime of GW-driven orbital decay. Our search with PS1 is a benchmark study for the exciting capabilities of LSST, which will have orders of magnitude larger survey power, and will potentially pinpoint the locations of thousands of SMBHBs in the variable night sky.
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