"There was a shooting on Wednesday evening in the Krootstraat street in the southeast of Amsterdam. There were two casualties," they said in statement said.
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One of the victims died, the other was injured and taken to hospital for treatment, it added.
There was no apparent terror link to Wednesday's incident.
Amsterdam has been the scene of an escalating gang war between criminal groups involved in drug trafficking.
Several people have been killed in a string of violent incidents since the fights began in 2012.
"A suspect has been arrested and fingerprints were taken at the crime scene," Thursday's police statement said.
A shooting in downtown Amsterdam in January left a 17-year-old boy dead and two other people injured.
In March 2016, the decapitated head of a man was found at the entrance to a hookah bar known to police as being a hangout for city criminals, the day after his body had been found in a burnt-out car.
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