During a press conference, Sheriff Jim McDonnell said the shooting took place around 6:20 p.m. at Salazar Park. A call had come in regarding an assault with a deadly weapon, he said.
The two deputies responded in separate vehicles, found a vehicle as described in the call and as they got out of their patrol vehicles, a shooting occurred. Witnesses said parents grabbed children and ran when the gunfire rang out.
"Both deputies sustained gunshot wounds, were transported by black and whites who responded," McDonnell said.
The deputies were taken to LAC+USC Medical Center in serious but stable conditions. Their injuries are non-life-threatening and they were shot in the upper body, according to McDonnell.
McDonnell said both men have been with the department for more than 10 years.
Footage from AIR7 HD showed a heavy police presence at the park and it appeared there was a body covered off to the side of the crime scene. Authorities confirmed one suspect was killed in the shooting.
Sheriff's officials later said another suspect was wounded and taken to a hospital, while another was arrested at the scene.
Authorities searched the area for another suspect, but about three hours later said a fourth suspect was not believed to be on the loose.
The investigation is ongoing.
Anyone with more information is urged to call the tip hotline at (800) 222-TIPS.