Police have identified the man as 32-year-old man as Dwayne Thompson from Brampton.
Residents reported hearing gunshots at around 10:30 p.m. outside an apartment building on Darcel Avenue in Malton.
Police arrived to find Thompson's body in the parking lot of the apartment complex.
Three men were seen running from the area after the shooting.
Neighbour Patrick Abbu told CBC News this isn't the first shooting at the building.
“I’m worried for my safety. When I go into the basement to park my car, I’m looking around. otherwise, who knows?"
Anyone with more information is being urged to call Peel Police or CrimeStoppers.