It happened outside a house in the Castleview Estate at around half 3.
Gardaí say a lone gunman approached the man and woman, in their 30's, and opened fire. The gunman fled the scene in a car which is believed to have been driven by a second man.
The injured man was airlifted to Cork University Hospital and the woman was taken to hospital in Limerick with what are described as non life threatening injuries.
Anyone with information is asked to contact Newcastle West Garda station.
