Toronto police said the man was shot once inside a house on Calverley Trail, near Morningside Avenue south of Highway 401.
CTV Toronto's Tamara Cherry reports that the building where the shooting took place is a rooming house with about 10 residents.
The man was is the common area of the rooming house when someone fired several shots; he was hit once.
Investigators deployed search dogs in the area during the hunt for the person responsible, who is believed to have fled on foot.
Police said the suspect is a black male known to the people who live at the home.
The 26-year-old victim was rushed to hospital in serious condition but is expected to recover. The man is set to celebrate his 27th birthday on Saturday.
With a report from CTV Toronto's Tamara Cherry
