The victim, identified as Dante Young, was shot on South Orange Avenue just after 11 p.m.
He was rushed to University Hospital, where he was pronounced dead at 11:40. The homicide is believed to be a targeted attack prompted by a prior argument.
No arrests were immediately made.
Newark Police Director Samuel DeMaio offered his condolences to the family members of the victim, who are coping with the pain of this loss.
"As the Newark Police Department continues to address the concerns of our citizens of this great city, we encourage residents to partner with us," DeMaio said. "In regaining the safety of our streets, we have to be vigilant in holding criminals responsible for their actions. The public can play a role in this endeavor, if someone saw something I urge you to use the anonymous tip line to help us bring the person responsible for this horrendous crime to justice."
Anyone with information is urged to call the Essex County Prosecutor's Office tips hotline at 1-877-847-7432.