The incident happened around 11:15 p.m. inside a house located on the unit block of South 44th Street near Market Street.
Police say a 21-year-old man was shot in the chest. He was pronounced dead at the scene.
A 30-year-old man was shot in the arm and taken to the the Hospital of the University of Pennsylvania in stable condition.
Investigators are looking over ballistic evidence and interviewing witnesses.
So far, there is no word on a motive and the victims' identities have not been released.