The shooting happened near the corner of Catalina Street and Fairfax Avenue.
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SFPD says officers were attempting to arrest another person when a man, appearing to be armed with something they say looked like a handgun, approached them.
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Officers shot the man, who was transported to the hospital with life-threatening injuries where he later died.
It is not clear at this point if the man killed had any connection with the other person officers were attempting to arrest.
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That person was later arrested.
Police say there will be a town hall within 10 days time to share details of investigation of this case.
Stay with ABC7 News for the latest details on this developing story.