The incident happened at around 3:40 p.m. in the area of Bellchase Trail and Highway 50.
Police say they located a man in his 30s lying on the roadway of a residential street suffering from what appeared to be gunshot wounds.
The man was taken to hospital, where he remains in stable, non-life-threatening condition.
Police say a vehicle was seen fleeing the area with an unknown number of occupants.
There is no further suspect information at this time, however police believe that this was a targeted incident.
Police say that no arrests have been made so far and investigators are asking anyone with information to contact 21 Division Criminal Investigation Bureau officers at 905-453-2121 extension 2133.
Investigators are also asking anyone with video surveillance, dash-cam or digital video footage to contact police. Information may also be left anonymously by calling Peel Crime Stoppers at 1-800-222-TIPS (8477).