Police were called to College Street, Ipswich, just after 11.30am on Tuesday following the discovery.
The Ambulance Service attended but the man was declared dead at the scene.
A post-mortem examination is set to take place.
A police cordon was put in place in College Street (Image: Tom Cann)
A 38-year-old man and a 41-year-old woman were arrested at the scene on suspicion of murder and taken to Martlesham Police Investigation Centre for questioning, where they currently remain.
Suffolk Police has said it is believed the arrested people and the deceased are known to each other, and they are not looking for anyone else.
Officers are appealing for anybody with information to contact police by calling 101 and quoting crime reference 37/72622/25.