Two men remain on the run after a fatal shooting on a street behind the busy MarketPlace Leichhardt shopping centre in Sydney's inner west on Monday night.

Police on Tuesday said they were still trying to identify the victim, thought to be aged in his late 20s or early 30s, who was shot in the chest at close range about 5.40pm.

A man has been shot dead in Leichhardt. Credit:Wolter Peeters

Shocked witnesses on Lords Road told police they heard five gunshots before the shooting victim stumbled onto George Street, where he collapsed on the road. Witnesses who called triple-0 said the man was bleeding heavily.

Paramedics attempted to revive the man for about 30 minutes before he was pronounced dead.