Four men have been arrested over a deadly drive-by shooting in Melbourne 's CBD earlier this month.

The 26-year-old victim was gunned down on Elizabeth Street and later died in hospital.

This afternoon officers swooped on the accused men in South Melbourne.

All are in their early twenties and are currently being interviewed.

DOWNLOAD THE 9NEWS APP : Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the Apple App Store and Google Play .

See Full Page