A manhunt is underway as police have confirmed two cars found engulfed in flames are linked to a "targeted" fatal shooting in Sydney's north-west.

Suman Mokhtarian was found with gunshot wounds on Annaluke Street in Riverstone about 6pm on Wednesday.

He was treated by NSW Ambulance paramedics but died at the scene.

A short time later, firefighters were called to Riverstone Road and found a red Audi set alight.

Police then located a white van ablaze on nearby Matthias Street. Both vehicles were destroyed in the fires and three crime scenes were established.

Superintendent Jason Joyce told ABC Radio Sydney on Thursday the vehicles were involved in the shooting.

Superintendent Joyce said he was unable to confirm whether the shooting was gangland related but said police were exploring

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