Merseyside Police said he was found wounded at the junction of Strathcona Road and Picton Road, Wavertree, just after 01:00 BST.
A 29-year-year-old man arrested in connection with the shooting was later released on police bail.
The injured man is in a "serious but stable condition", police said.
A 27-year-old man has been shot in the chest in a Liverpool street.