Police say they received a call shortly before 11 p.m. about a shooting at a busy corner, with several witnesses at the scene.
The man, whose identity has not been made public but who was known to the police, was taken to the hospital in critical condition and died early Sunday from his injury.
Investigators are still interviewing the witnesses and no arrest has been made.
Police say they are trying to determine if the victim and suspects knew each other.
The homicide is the seventh reported in Montreal since the beginning of the year.