The 56-year-old was targeted at a house in Hazelbrook Avenue, Bangor, Co Down, shortly after midday on Friday.
Police believe the gun attack could be linked to the drugs trade.
Another man was taken to hospital with wounds which are not life-threatening.
A man was later arrested in Ormeau Avenue, Belfast, by officers investigating the killing.
Eyewitnesses said several police cars surrounded the suspect's vehicle and the man was immediately put into a forensic boiler suit.
Police said no members of the security forces were involved.
Detectives from PSNI Serious Crime Branch investigating Mr Morrison's murder later appealed for information on several vehicles.
They want to hear from anyone who saw a car on fire around Somme Heritage Centre in Newtownards between 9am and 1pm to come forward and who saw a silver vehicle entering or leaving the car park at this time,
Elsewhere they are appealing for anyone in the Clandeboye Road or Hazelbrook Avenue areas of Bangor who may have seen a silver Honda Civic car, reg SKZ 2442, with three people on board to contact them
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