He told RCMP he had been shot in the hand at around 12:20 p.m.
He also told police he had been arguing with an acquaintance who pulled out a rifle and shot him.
Staff Sgt. Mike Jeffrey at RCMP headquarters in Iqaluit said the victim received medical treatment at the local health centre.
The man's wound was described as superficial.
A 29-year-old man, who turned himself into police, was charged with assault causing bodily harm, aggravated assault and possession of a weapon for dangerous purposes.
He is scheduled to appear at the Nunavut Court of Justice in Iqaluit today.