The incident happened just before 9 a.m. on the 8600 block of Jackson Street in the city's Holmesburg section.
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Police say a 29-year-old man suffered gunshot wounds to the neck and head.
The victim was transported to Jefferson-Torresdale Hospital and listed in critical condition.
The second victim, a 28-year-old man, suffered a gunshot wound to the head. He was pronounced dead at the scene shortly after, officials say.
Action News has since learned the two victims were brothers.
Police have recovered a weapon in this incident, but the motive for the shooting remains unclear.
"Usually, nothing ever happens here. It's really horrible that something happened right there," said resident Leann Page.
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One resident said, "I feel sad for the families."
For long-time residents, it's a stark reminder of the gun violence epidemic across the city.
"We're just really praying for those families that are in the crisis right now," added Page.
The investigation is still ongoing with the Homicide Detective Division.