A man is dead after a shooting near Yonge-Dundas Square on Saturday evening, Toronto police say.

At around 7:30 p.m., police and paramedics were called to Yonge and Gould Streets after getting reports of the sound of gunshots.

They found the victim with life-threatening injuries and rushed him to hospital, where he was later pronounced dead.

Police say the suspect is a Black male wearing all-dark clothing and was last seen running north toward Gerrard Street.

There was an altercation between the victim and the alleged suspect, according to the police. The homicide unit is investigating.