Saanich Police arrested a 22-year-old Victoria man Wednesday at a home in the 3200 block of Quadra Street.
A 21-year-old man was also arrested at that residence on suspicion of being an accessory after the fact.
West Shore RCMP say no charges have been laid and officers continue to search for the handgun involved in the shooting.
A 38-year-old man remains in serious condition in hospital after the shooting on Tuesday night.
Mounties say the suspects and the injured man are previously known to them. (The Canadian Press/CFAX)