The shooting occurred around 1:27 am (0527 GMT) as officers were investigating disturbances, deputy police operations chief Tanya Terry told a news conference.
Three of the victims were juveniles, including the person who died, Terry said, without providing the ages and conditions of the other victims.
Indianapolis police chief Chris Bailey condemned recurring violence in the city's downtown area, particularly involving young people.
The police chief said officers made about 20 arrests throughout the night and recovered guns from minors, including “an assault rifle stuffed in the front of his pants.”
“We are not your children’s keeper. You are,“ he said. “Parents and guardians have got to step up.”
The shooting marked the second weekend of violence in downtown Indianapolis, according to the police chief.
There have been 189 mass shootings in the United States this year, according to the Gun Violence Archive -- which it defines as four or more people shot.
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