Officers said the shooting happened about 4:50 a.m. in the 3500 block of Capital Boulevard.
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.
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.