Officers have taped off Denman Street, Eastwood, at both ends and officers are keeping guard while crime scene enquiries are carried out.
Emergency services were called to the street at 9.30pm yesterday following reports that a man had been found seriously injured.
The 26-year-old, who has not yet been formally identified, was pronounced dead at the scene.
A post mortem examination is yet to be carried out.
A 32-year-old man and a 29-year-old woman, both from the Rotherham area, have been arrested on suspicion of murder and remain in police custody this morning.
The police cordon is expected to remain in place for most of today.
Witnesses or anyone with information should call South Yorkshire Police on 101 and quote incident number 800 of November 10.
Crimestoppers can also contacted, anonymously, on 0800 555111.