The victim, thought to be in his 30s, reportedly had his throat slit with a huge knife in East Dulwich, South London, before being pronounced dead at the scene at around 3am.
Formal identification and a post-mortem examination will be arranged in due course and there have been no arrests.
Detectives from the Homicide and Major Crime Command are investigating.
'SLASHED ACROSS NECK'
Locals in well-heeled Dulwich have spoken of their horror following the brutal murder on their doorstep.
A local business owner said staff in the shop, which is behind a police cordon, tried to stop the attacker.
He said: "The knife was huge, bigger than a kitchen knife. He slashes him across the neck. I don't think they were customers."
The murder came after a bloodbath saw three different incidents in the latest night of violence in London.
In Isleworth, West London, a 17-year-old boy was left in a critical condition after being shot at around 7.15pm.
Police said: "Police were called by paramedics to London Road, Isleworth, at 7.17pm on Saturday to reports of an injured male.
"Officers attended. At the scene a 17-year-old male was receiving treatment from medics for gunshot wounds. The injured male was taken by LAS to a west London hospital."
It came after four people aged between 15 and 18 were arrested on suspicion of attempted murder after a 16-year-old was stabbed in Hayes, West London.
The teenager was was airlifted to hospital after the knifing, which took place during a fight at around 4pm, but his condition is not believed to be life threatening.
And in Neasden, North West London, a 23-year-old was taken to hospital after being stabbed at around 10.45pm with a man, 29, arrested on suspicion of attempted murder.
The man in Dulwich is the tenth person to die from violent attacks in London this year.
Last week 19-year-old Lajean Richards, 19, was stabbed to death outside his family home – less than a five-minute walk from Prince George's £17,000-a-year Thomas's School in Battersea.
His mum Lavern Joseph said: "Lejean was a loving son and brother, a young man determined to turn his life around.
"He will be sorely grieved by his family and friends and all that knew him."
On Wednesday morning the Metropolitan Police said two men, aged 19 and 27, had been arrested on suspicion of murder after presenting themselves at a central London hospital.
Knife crime and shootings are on the rise fuelled by gang rivalry and disputes over drug markets.
Last year's homicide rate in the capital was the highest in a decade, with 132 violent deaths in London.
The Mayor of London warned it could take a "decade" to turn the tide of violent crime.
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