Police said two people were placed in custody in relation to the shooting, which occurred in the midst of more than 1.5 million people gathered to celebrate the Raptors' first National Basketball Association title.
Although it's already been four days since the Raptors took home their first-ever NBA Championship, the hype in Toronto hasn't even begun to die down yet.
The parade itself was significantly behind schedule, leaving fans packed into Nathan Phillips Square - the site of the ensuing rally - waiting hours to see the champions. Three people were arrested and two firearms were recovered, police said.
According to local news, police quickly responded and two suspects were taken into custody.
However, the incident caused only a brief pause in the celebratory speeches, which were still going on. It also cut power to the overhead streetcar lines nearby at one point "due to unsafe behaviour and people climbing TTC infrastructure".
Kawhi Leonard told reporters in Toronto he was "a fun guy" back in September, and the Raptors star went some way to proving it at the champion's title parade on Monday.
After the rally, Trudeau tweeted: "I hope all those injured in today's shooting have a speedy recovery, and I'd like to thank the Toronto police for acting so quickly".More news: Acting ICE director urges people in U.S. illegally to turn themselves in
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While Canadian Prime Minister Justin Trudeau was attending a ceremony, the ceremony was briefly paused to let the crowd know there was an emergency situation.
Jubilant Raptors fans decked out in the team's gear are jamming downtown Toronto this morning as they await the team's victory parade.
Some in the crowd said they had not heard any shots but rushed from the area as others panicked.
"A HA, HA, HA, HA", Leonard said, as the Toronto faithful cheered and shouted.
"When I was young I used to watch this on TV, and I was like 'Man, I would love to be there one day.' And look here I am now here".
If you missed out on the celebration or if you just want to relive all of the magic, we've got a 50-minute video recap for you right here.