It happened around 4:00 p.m. Saturday on Marlton Pike near 24th Street.
Officials from the New Jersey Attorney General's Office say officers stopped a vehicle wanted in an investigation.
Several shots were fired and the suspect inside the car was shot in the leg.
A bystander was also shot in the leg. Both men were taken to Cooper Medical Center for treatment.
Sources tell Action News that the wounded suspect was not the driver of the car and that there was at least one other person, from the car, who was taken into custody.
No officers were wounded in the incident.
Police say they recovered an assault weapon from the suspect's vehicle.