Police were called out at just after 9pm by several people who had heard the sound of gunshots.
When they arrived they found the man, in his 20s, injured on the pavement. He later died at the scene.
Several people were brought in for questioning, but there were no arrests by midnight.
Unconfirmed witness reports claim that one or several shooters left the scene on a moped.
“There are a lot of different reports. We cannot confirmed individual ones without running the risk of influencing other witnesses,” police spokesperson Calle Persson told newspaper Sydsvenskan.
Ten people in total have been shot dead in Malmö this year, despite police crackdowns on gang violence. Six men were killed and nine injured in a series of shootings in June and July alone, reports Sydsvenskan.