Peel Police were called to the Wikander Way and Thorson Gate area at around 12:30 a.m. after receiving several reports of gunshots.
A man, in his late teens or 20s, was found a man on the roadway suffering from a gunshot wound following an altercation.
He was taken to a local hospital and then transferred to a Toronto trauma centre where he is now in stable, non-life threatening condition.
Officers are canvassing the areas and said they have not yet found the suspect.
Anyone with information is asked to call Peel Regional Police at (905)-453-3311 or Crimes Stoppers anonymously at (416) 222-TIPS (8477).