Sources told the website that Blackshear was shot in the upper and lower body in front of an apartment complex near South Carolina's baseball field.
South Carolina athletics director Ray Tanner told TheState.com that Blackshear remains a member of the football team while the police investigation continues.
"The focus right now is on his health and trying to make sure he's OK," Tanner said. "We are optimistic that he is going to be OK."
Blackshear had scholarships offers from Clemson, Georgia, LSU and North Carolina. He suffered a knee injury in high school and only played in two games last season for the Gamecocks, registering two tackles.