It happened just before 2 a.m. in a parking lot outside of Mickey's strip club in the Carolina Square in the 5100 block of Bragg Boulevard.
According to police, an altercation broke out between two groups and quickly turned into them shooting at each other.
Police say 26-year-old Cornelius Tobias Jackson, of Fayetteville, and 24-year-old Melissa Yamile Neal, of Lumberbridge, were killed.
During a news conference late Friday morning, Police Chief Harold Medlock said Neal was with a group of ladies that was a part of one of the groups involved in the altercation. A 40-year-old woman, Shmeca Melvin, of Fayetteville, was also in that group. She was taken to the hospital with non-life threatening injuries.
Authorities said Jackson got into a car after the shooting that later crashed nearby.
Police have also identified the motorcyclist that was injured during a crash while attempting to leave the area as 40-year-old John Mills, of Fayetteville.
Mills was taken to Cape Fear Valley Medical Center for treatment. He was last listed in stable condition
Harold said investigators believe what happened may have been a part of an ongoing altercation.
The incident was just one of several shooting that happened Thursday night and early Friday morning, prompting Medlock to say he was frustrated with the "high-risk life style" some people in the city are involved in.
"Young people need to be at home ... I'm telling our young people they need to put guns away," he said. "I'm tired of gun violence by young people that don't know what they are doing. Young people carrying illegal or stolen fire arms don't need to be doing that."
"If you are not doing this, your risk of being hurt or being involved in something like this greatly reduces ... If you are engaged in a high-risk lifestyle, you are more likely to be involved in something like this," he added. "If you are at home in bed at 2, 3 in the morning you shouldn't have a problem ... unless you are in the path of a stray bullet that some idiot would fire."
Meanwhile, detectives with the Fayetteville Police Department's Homicide Unit are still investigating the incident.
Authorities also said they don't believe the Carolina Square shooting was gang related and they are looking for a small white SUV in connection with the incident.
No arrests have been made at this time.
Anyone with information about the shooting is asked to call detectives with the Fayetteville Police Department at (910) 433-1856 or Crimestoppers