The two victims were standing outside on the 200 block of Ney Street at about 1:10 a.m. when a grey four-door Japanese model car drove by, San Francisco police Officer Albie Esparza said.
Two suspects opened fire as the vehicle passed, striking both the victims, who were transported by ambulance to a local hospital.
One of those victims was pronounced dead at the hospital, and the other sustained injuries that are not believed to be life threatening, Esparza said.
As of 6:45 a.m., police had not yet collected sufficient information to provide suspect descriptions.
Anyone with information is asked to contact police using the anonymous tip line by calling (415) 575-4444 or by texting TIP411.
In an unrelated shooting, one man was injured when gunfire erupted at about 11 p.m. Tuesday on Mission Street between 16th and 17th streets.