It happened around 5:34 p.m. on the unit block of W. Sharpnack Street in the city's West Mount Airy section.
Police say a 17-year-old boy was shot in the head and left shoulder. He was rushed to the hospital where he later died.
Another 17-year-old boy suffered a gunshot wound to the lower side of the back. He is listed in stable condition at the hospital.
More than a dozen shots were fired at the victims, police say.
No arrests have been made.
Anyone with any information is asked to call police at 215-686-TIPS.