Police said they were called to a home in the 200 block of Waterloo Crescent early Saturday morning for an unknown problem.
They found a 38-year-old man with a gunshot wound. He was taken to hospital for treatment of what police believe were serious injuries.
Several people were also found in the home suffering from the effects of bear spray, police said.
Witnesses told police that several people dressed in red had entered the home and discharged bear spray before the man was shot.
The suspects then drove off in a white SUV.
Officers said they seized 21 grams of meth, drug paraphernalia, and a knife during a search of the home.
No arrests have been made as police continue to investigate.
Anyone with information is asked to contact Saskatoon police at 306-975-8300 or Crime Stoppers at 1-800-222-8477.