The shooting happened near the corner of Catalina Street and Fairfax Avenue.
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.
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.