It happened just after 11 p.m. Wednesday on the 1900 block of East Madison Street in Port Richmond.
Police said a 32-year-old man was shot in the head and in the hip.
He is in critical condition but is expected to survive.
Investigators said a 31-year-old man was shot in the leg and is in stable condition.
"We don't have a motive for this double shooting, however witnesses did hear a vehicle speed off right after the gunshots," said Philadelphia Police Chief Inspector Scott Small.
Officials said bullets hit a parked car on the street.
Police also found a Taser at the scene.
There have been no arrests made.