He is the first martyr of the anti-CAB protests in Assam.
The victim has been identified as Dipanjal Das, who served as an employee of the canteen at Sainik Bhavan, Rajgarh Road.
Das was a resident of Chaigaon in Kamrup (Rural) district.
He received bullet injuries in his abdomen.
The firing incident took place at Lachit Nagar area in Ulubari of the city.
The other protestor received injuries in his leg.
Both of the injured, aged above 18 years, were immediately admitted to the Gauhati Medical College and Hospital (GMCH).
The anti-CAB protests turned violent in the Ulubari area when the protestors pelted stones at the police and CRPF personnel.
The situation in Guwahati continues to remain volatile since Wednesday.
A large number of CRPF personnel have been deployed in Guwahati besides the Army.
The Army has taken out flag march in the city to tackle the deteriorating law and order situation due to violent protests against the Citizenship Amendment Bill (CAB), 2019.
Earlier in the morning, at least four protestors were injured during clashes with security personnel at Lalung Gaon in Guwahati.
While the CAB, 2019 was passed in the Lok Sabha on the intervening night of Monday and Tuesday, the bill was passed in the Rajya Sabha on Wednesday night.
The bill seeks to grant Indian citizenship to persons belonging to Hindu, Sikh, Buddhist, Jain, Parsi and Christian communities who have migrated to India after facing persecution on grounds of religion in Pakistan, Afghanistan, and Bangladesh if they fulfil conditions for grant of citizenship.