Greater Manchester Police were called to reports of gunshots on Caythorpe Street in Moss Side just before 1am on Sunday.
Officers were then told shorty that two men had been rushed to hospital with gunshot wounds.
Medics battled to save the lives of Abayomi Ajosi, 36, and Cheriff Tally, 21, but they later died.
Officers arrested a 32-year-old woman from the Birmingham area on suspicion of two counts of murder on Thursday.
She remains in custody for questioning and police are appealing to the public for information.
The families of the victims are being updated with the progress of the investigation by specialist liaison officers.
Anyone with information should contact police on 0161 856 6777 quoting 221 of 21/06/20 or the independent charity, Crimestoppers, anonymously, on 0800 555 111.