The man was found critically injured in a luxury home in the small town Ste-Marguerite-du-Lac-Masson, located about 100 kilometres north of Montreal.
The Sûreté du Québec said they were alerted to the shooting after an injured man banged on the door of the local town hall at about 9:45 a.m. asking for help.
The man had been shot and led police to a home nearby, where another injured man was found. Both men were rushed to hospital, but the man found at the home was later pronounced dead.
Radio-Canada has confirmed the shooting is connected to the Mafia.
Police have not released any details about either of the victims or the condition of the second man.
This morning, investigators set up a large perimeter around the expansive property, which includes a helipad. They have not said if they are still searching for a suspect or commented on any potential motive for the shooting.
The town, which has a population of about 2,700, was the scene of another shooting on Sept. 29. A 28-year-old man was shot in the parking lot of the Rest-O-Pub du Lac Masson.
In January 2012, three men suffered gunshot wounds in a shooting that eerily echoed the same scenario as the one police described today. In that incident, a man who had been shot ran for help at a local business and led police back to a home where two other injured men were found.
Police wouldn't say if any of the incidents were linked.