Officers responded to a ShotSpotter activation in the 2800 block of Fordham Street at about 11 p.m., police said.
When officers arrived, they found three teenaged boys with gunshot wounds, according to police.
A 16-year-old boy named Jose Luis Quinones suffered multiple gunshot wounds and was pronounced dead at the scene, according to police.
Two other boys, 15 and 16, were transported to a hospital to be treated for minor injuries suffered in the shooting.
A fourth teenage boy was unharmed in the shooting, police said.
An investigation revealed that the four teens were sitting together inside a car when the suspects approached and fired several rounds into the car, police said.
Two suspects were seen fleeing the scene, possibly in an awaiting gray or silver sedan, according to police.
Investigators are working on determining a motive for the crime.
Anyone with information about the shooting is asked to call East Palo Alto Det. Nua Lualemaga at (650) 798-5952 or (650) 321-1112, or anonymously to (650) 409-6792.
Menlo Park fire provided aid to the wounded boys at the scene.