The shooting happened just after 7:30 p.m. as tourists packed the Hollywood Walk of Fame. Los Angeles police officers responded to the scene and found a man on the sidewalk suffering from a gunshot wound.
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Crowds of people attending the TCM Film Festival at the nearby TCL Chinese Theatre received cellphone alerts telling them to shelter in place.
"I heard a sound like a firecracker. That's how it sounded. It didn't sound too strong," witness Jesus Gomez said. "We turned around, a lot of people started running. It was really packed - there were kids, women."
Police say the shooting happened during a fight involving three people.
"There was an altercation between two males, and a female was also involved," LAPD Sgt. Victor Hooper said. "During the altercation, one of them pulled out a firearm and one shot was fired."
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The suspects, a man and a woman, fled the scene and remain on the loose.
The victim was transported to a hospital and is in stable condition, police said. He is expected to recover.