An allegedly armed man has been arrested in Melbourne's CBD following a dramatic chase involving tactical police and the airwing unit.

The man was taken into custody after several alleged carjackings in Tarneit in the city's west and North Melbourne.

He was allegedly in possession of a gun when the arrest took place earlier today.

9News has obtained CCTV vision of the man smoking while appearing to carry a gun as he walked down the street.

The arrested man is now being interviewed by police.

More to come.

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