Los Angeles County sheriff's spokesman James Braden told reporters that deputies responded to a report of an altercation involving a person with a gun at 11:10 am local time.
When they arrived they found the security guard struggling with the intruder, reported Fox News.
Braden said the unidentified suspect shot the guard, who in turn shot the trespasser three or four times.
Both men were taken to local hospitals. The guard was listed in stable condition, while the intruder was listed in critical condition with non-life-threatening injuries.
Neighbours confirmed to KTLA that Kerr owns the home, adding that Friday's incident was the second time this week that police have responded to an intruder call.
It is kind of a crazy thing to happen out here in Malibu," neighbour Craig Moore told the station.
"I guess it happens everywhere but we just don't ever have it happen in our neighbourhood."
Kerr is engaged to Snapchat founder Evan Spiegel, who recently purchased a mansion for the pair in the Brentwood section of Los Angeles for USD 12 million.
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