A knifeman has been shot dead by police after stabbing a man in the neck and threatening a woman on a Queensland street.

Emergency services were called to a disturbance at the intersection of Beerburrum Rd and Commercial Dr in Caboolture where a man had been stabbed about 3.42am on Tuesday.

A 54-year-old man was found with potentially life-threatening neck wounds, with the alleged offender fleeing the scene on foot.

He was found by police only 600m away on Margate St, threatening a 28-year-old woman with a knife.

Detective Superintendent Ben Fadian said Police attempted to negotiate with the man, however, he “was presenting a threat to the female and to the public”

The 26-year-old man was shot by the officers, who attempted to render first aid, however could not be revived and die

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