The incident occurred on the 900 block of South H Street around 6:06 p.m.
Police say the three male victims were shot in the front yard of a home.
All three victims were transported to Ventura County Medical Center where one of the victims succumbed to his wounds.
No arrests have been made.
The victims' names have not been released pending notification of kin.
The motive of the shooting remains unknown.
The death is the tenth homicide in the city of Oxnard this year.
The investigation is ongoing. Anyone with information was urged to contact the Oxnard Police Department at (805) 385-7760.