At approximately 11.30am, Gardaí were alerted to an incident involving a man armed with a shotgun on farmlands near Carrignavar.
A statement from gardaí said: "On arrival of Gardaí an outer cordon was set up and a search operation of the lands commenced.
"The male was not located. Local Gardaí were joined and assisted at the scene by members of the Armed Support Unit and trained Garda Negotiators.
"The cordon remained in place during the afternoon while the area where the male was last sighted was monitored. Shortly after 6pm the body of a 50-year-old man was discovered in a farmhouse located inside the cordon.
"The man had sustained an apparent gunshot wound and was pronounced dead at the scene a short time later. A firearm was also discovered at the scene.
"The local Coroner has been notified of the death.
"No one else was injured during the incident and no shots were discharged by Garda members. The body of the deceased will be removed to the mortuary at Cork University Hospital where a post-mortem examination will be carried out," the garda statement added.
The matter is currently being treated as a personal tragedy incident and a file will be prepared for the Coroner.