The boy, who is between 8 and 10 years old, was playing in the street near the intersection of Imperial Highway and Avalon Boulevard when he was struck around 6:35 p.m.
Investigators say the male gunman fired multiple shots and fled the scene.
The boy was transported to Long Beach Memorial Medical Center, where he is listed in stable condition.
Police are searching for the suspect. A detailed description of the suspect was not immediately available.
Investigators believe the shooting may have been gang-related.