The Maine State Police identified the man, who died in a confrontation in a home in Rangeley early Thursday morning.
According to police, 29-year-old Michael Bokun, of New York, died from a gunshot.
Forty-eight-year-old Hector Munoz, of New York, is one of the two injured people. Munoz was arrested on a probation violation after he was released from hospital.
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The name of the second injured man, a resident of the Rangeley home, is not released. He is in hospital with non-life-threatening injuries.
Law enforcement officials said they received a 911 call around 1:30 a.m. for an alleged home invasion at a home in Rangeley. When they arrived they found two "significantly injured" individuals at the residence and a dead male inside.
The incident happened inside a lakeside home in the heart of Main Street — a popular spot for vacationers to the quiet community.
The injured men were taken by medical helicopter to Central Maine Medical Center in Lewiston, where one of them is undergoing emergency surgery.
The violence has left locals, vacationers and law enforcement stunned.
"Nothing like this has happened in the time that I've been in Rangeley," said Police Chief Russ French.
"You don't think it's going to come to a small town, but yet — bam, here it is," said Thomas Dickey, who moved to Rangeley one year ago. "I know my girlfriend will start locking her windows and doors."
Police continue an investigation, and no charges have been filed.