The gunmen opened fire at Brigadier General Ahmed Abdel Satar in the streets of Al-Arish, capital of North Sinai.
On Wednesday, another senior police officer Major General Khaled Kamal Othman, was killed in a drive-by shooting in Al-Arish.
Egypt's North Sinai has witnessed many violent attacks by militants since the January, 2011 revolution that toppled the former president Hosni Mubarak.
The attacks targeting police and military increased after the ouster of Islamist ex-president Mohamed Morsi in 2013 by military following massive protests against his rule.