Officers responded to a call about gunshots and found Evans wounded and laying on a city sidewalk, according to media reports. The 19-year-old Mechanicsville native died at the scene.
Police did not release information on a suspect. An investigation is ongoing.
"Our university and athletics department are part of a tight knit community, and Nate's loss will be felt deeply," William & Mary athletic director Samantha Huge said in a statement. "Most importantly, our thoughts and prayers are with Nate's family and friends during this difficult time."
Evans led William & Mary in rushing as a true freshman in 2017. He played in 19 games, with 14 starts, the last two seasons.