The alarm was raised by a witness around 2.30am and the two men, aged 32 and 20, were taken to University Hospital Mas in the city.
One suffered a shot to the leg, the other was shot in the foot. Both men are in a stable condition and their injuries are not reported to be serious.
An area of the park was cordoned off for forensic investigation until 6am on Saturday morning but police have yet to find a motive for the shooting.
”We have had officers at the scene, we have spoken to the two men and a number of witnesses have been questioned,” Daniel Jonasson from Malmö police told newspaper Sydsvenskan.
”Now we have leads to follow and our investigations are ongoing.”