The shooting happened near an Arco gas station in the 2700 block of Marine Avenue at about 4 p.m., according to officials.
Witnesses told Redondo Beach police that three people had an altercation in the crosswalk at Inglewood and Marine avenues.
"We had a fight, now it looks like two people against one. So the person who was by himself, the solo person, produced a handgun and he shot two people, the two he was fighting with," Sgt. Shawn Freeman with the Redondo Beach Police Department said.
Authorities said one victim was pronounced dead at the scene, while the other victim was rushed to the hospital.
Police stated the suspect was still at large.
Family and friends identified the fatal shooting victim as Mike Cortez to ABC7.
No other details were available at this time as police said their investigation was ongoing.
Anyone with information about the shooting was urged to call the Redondo Beach Police Department Investigations Division at (310) 937-6685.