It happened around 2 a.m. near Rising Sun and Oxford avenues.
The 29-year-old victim was walking on Rising Sun Avenue near Cottman Avenue when a car with two females inside pulled up and shot the woman, said police.
The woman later died at the hospital.
The incident happened right in front of a police officer, which helped officers make a quick arrest.
The victim or the suspects have not been identified.
Police have not provided further details on the altercation at the party.
Anyone with information is asked to call police at 215-686-TIPS.