In the early hours at 3:42 a.m., authorities responded to an incident involving a stabbing at the crossroads of Beerburrum Road and Commercial Drive in Caboolture, located just north of Brisbane.

The suspect quickly escaped the scene on foot.

Shortly thereafter, law enforcement officers tracked down the 26-year-old suspect on Margaret Street, where he was allegedly threatening a 28-year-old woman.

According to reports from 9News, the man was holding a knife to her throat.

In response, an officer discharged their firearm, fatally wounding the suspect. The man was pronounced dead at the scene.

The woman was not physically hurt.

Police have since confirmed all three people were loosely associated with one another, and that the alleged offender was known to police.

North Coast Regional Crime Coordinator Detective Superintendent Ben Fadian today said the man posed a threat to both the woman and the public.

”The woman was being threatened by that male person,” he said.

“I can confirm there is no ongoing threat to the public at this time.”

He said the incident was captured on body-worn camera and CCTV.

The man’s mental health will form part of the investigation, he said.

“It was a traumatic experience for the officer involved, we’ve activated protocols and processes around that to support those officers,” he said.

“We’ve also reached out to residents within that street to offer support to those people who may need it.”

A 54-year-old man with a stab wound to the neck was taken to hospital in a serious condition.

An investigation into the shooting is underway with oversight from the Crime and Corruption Commission.