Officers responded to the 1900 block of North 32nd Street around 1:45 a.m.
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There they found 22-year-old Kelvin Manuel Sori, who lives on the same block, dead from multiple gunshot wounds to the head and body.
Police say multiple suspects fired at least 31 shots at Sori's car.
"It appears the shooters were firing into this vehicle from every direction," Philadelphia Police Chief Inspector Scott Small said on Tuesday morning.
Sori was in the driver's seat of a Hyundai sedan with the engine still running.
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At least 31 shots were fired from two weapons, police said, and the Hyundai was hit more than 15 times. Most of the bullet holes in the driver's side door and window.
"This appears to be an execution due to the fact the car's hit so many times and the victim is hit multiple times," Small said.
Police said surveillance cameras captured three males walking up to the victim, firing shots and then fleeing the scene.
No arrests have been made.