Officers said the shooting happened about 4:50 a.m. in the 3500 block of Capital Boulevard.
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The victim was taken in a private vehicle for treatment, but he died at the hospital, police said.
On Friday, the victim was identified as Nathaniel Radel Forbes, 25.
The case remains under investigation.
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Anyone with information on this case is asked to call Raleigh CrimeStoppers at (919) 834-HELP or visit raleighcrimestoppers.org for text and email reporting options. CrimeStoppers pays cash rewards for anonymous tips that help solve cases.