The city of Los Angeles has been placed on tactical alert as a precaution after the incident
LAPD Chief Charlie Beck said the shooting took place within a small office at an engineering building on campus.
Police responded to Boelter Hall science building this morning at 9:55am local time, and the university was put on lockdown.
The LAPD confirmed that two males were found suffering gunshot wounds, but it is not clear if they are students or staff.
Police Capt Andy Neiman told journalists: "If you are on campus, shelter in place.
"Lock yourself in a safe place until the authorities are able to get to you."
Students reportedly used belts and other objects in an effort to barricade doors during the campus lockdown, which unfolded during finals week.
Speaking to reporters, Chief Charlie Beck said: "it appears it is entirely contained.
"We believe there are no suspects outstanding, and no continuing threat to UCLA's campus.
"We are in the process of releasing students from lockdown but we need to do so in an orderly fashion."
The entire city of Los Angeles has been placed on tactical alert as a precaution after the incident at the renowned university's campus.
A number of police officers swooped on the 400-acre campus on the west side of the city.
Agents from the FBI and the Bureau of Alcohol, Tobacco, Firearms and Explosives have also gone to the scene.
Aerial footage showed students walking out in single file with their hands above their heads.
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