A number of shots were fired at a man who was walking along Almeida Crescent in South Yarra just metres from the popular nightlife area on Chapel Street about 11.40pm yesterday, according to Victoria Police as reported by 9 News.

The man, who suffered life-threatening injuries, later died in hospital.

Police cordoned off the area after the attack.

"Detectives are still working to determine the exact circumstances of the incident but would like to speak anyone who witnessed anything or has CCTV or dash-cam vision of the incident," police told 9 News.