Police said the shooting occurred around 1:30 a.m. on Murray Street near Seabright Avenue.
Officers located the victim, a 15-year-old boy, suffering from multiple gunshot wounds.
He was airlifted to a trauma center to be treated for his injuries and underwent surgery later Saturday morning, according to police. An update on his condition was not immediately available this afternoon.
While Santa Cruz police responded to reports of the shooting, CHP officers in the area of Seventh Avenue and Eaton Street attempted to stop a car that was speeding, police said.
The car sped away, prompting an 8-mile chase that ended on Clubhouse Drive in Aptos after the officers placed a spike strip in the roadway to disable the suspect vehicle.
Police said the car's four occupants fled the scene on foot.
The CHP, Santa Cruz County Sheriff's deputies and Capitola police were able to capture two of the suspects a short time later as they fled through private yards, police said.
Police said the remaining two suspects were apprehended hours later, one by a Santa Cruz police K-9.
The following investigation led police to link the four suspects, aged 27, 25, 20 and 15 years old, respectively, to the drive-by shooting.
All four are confirmed Norteno gang members from Watsonville, police said.
The suspects were arrested on suspicion of attempted murder and taken to county jail.
Their names have not been released. Police said the shooting appears to have been gang-related but an exact motive has not been established and the investigation is ongoing.