Stewart Gillespie, 53, was found injured at a flat in Glencairn Road, Paisley, at around 10.25pm on Wednesday. He died at the scene.
Another man, 32, who was also injured during the incident, was taken to the town's Royal Alexandra Hospital, where he was said to be in a serious condition.
Mr Gillespie was reportedly jailed in 1996 for the murder of Mark Rennie, who was shot near his home in Paisley.
Strathclyde Police said a man had been detained in connection with the death of Mr Gillespie.