It happened just before 9:30 p.m. on the 5900 block of Market Street.
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When officers arrived at the scene, police say they found a teen suffering a gunshot wound to the leg.
The victim was transported to the Children's Hospital of Philadelphia, where he was placed in stable condition.
Police say using real-time cameras in the area, two suspects in dark clothing were spotted running from the scene.
Officers then saw two males in the area of 57th and Sansom streets matching the suspects' description. Both suspects were later arrested after a brief chase.
One of the juveniles had a handgun, police say.
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Both suspects are being held in police custody as the investigation continues into what led to this shooting.
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