Police said three men were walking along Ferny Avenue, Surfers Paradise, when a gun was fired at them from a passing car around 4.30am.
Superintendent Scott Knowles said a single gunshot was fired and it appears to be a shotgun round.
A 20-year-old Brisbane man suffered a non-life-threatening chest wound and was taken to hospital.
No one else was injured.
Investigators are trying to determine if that victim was known to the shooter however Knowles said there is no clear motive yet.
“It doesn’t appear that the victim or friends knew anyone that was causing problems,” Knowles said.
“There doesn’t appear to be any rhyme or reason why this incident occurred.”
A crime scene was declared on Ferny Avenue.
After the shooting, Knowles said the suspected car “did a U-turn and fled up Ferny Avenue toward Southport, then drove out onto the M1 motorway and headed north”.
Police found the car, believed to be linked to the alleged drive-by shooting, engulfed in flames a short time later.
Knowles said the car had been stolen from Murrumba Downs on September 29.
He appealed for anyone with dashcam footage of the car with the number plate 160EQ9 and “evolve” written on the side to come forward.
He added there may have been more than one person in the car.
“I would hazard a guess there was more than one whoever it is that discharged the firearm came out the passenger side,” he said.
Investigations are continuing.