Police have the suspect from a contained unit on Shirley Street North in custody.
It comes 24 hours after an apartment on the 400 block of Shirley Street was contained by Timmins Police.
Timmins Police corporate communications co-ordinator Marc Depatie said a "textbook manoeuvre" was undertaken using technology and tactics.
“A subject that is of considerable interest to the local police service is now in custody. The situation will return to normal in due course of time,” he said.
He said there is a "strong indication" that the man taken into custody on Shirley Street is the person involved in yesterday's attempted murder on Way Street
He said it depends on if evidence from the Way Street scene and the Shirley Street apartment can be linked.
Depatie said the 23-year-old man from Quebec who was shot had surgery yesterday and remains at Timmins and District Hospital with serious injuries.
The name of the person taken into custody today or the charges is not known at this time.
Depatie said those details may be available later today or tomorrow.
The apartment that was being contained is under control of the Timmins Police and the forensics unit is on scene.
Late this morning, nearby residents who had been allowed to voluntarily stay in their homes were evacuated.
They were allowed back into their homes just after 6 p.m. tonight.
Police expect the Shirley Street barricades to be taken down in about an hour to allow traffic to return to normal.
For the incident, Timmins Police emergency response team (ERT), South Porcupine OPP ERT, and the OPP tactical response unit (TRU) from Orillia were at the scene.
