A suspected domestic violence stabbing and a dramatic pursuit ended with a man being shot dead by police on the NSW Mid North Coast this morning.

Just before 6.40am, officers were called to a home on Heath Avenue, Tuncurry, after reports a man armed with a chainsaw and knife had broken in.

On the way, police were told the woman had been stabbed and the man had fled in a white four-wheel drive.

9News has obtained startling CCTV of the 41-year-old’s frantic attempt to escape arrest.© Nine

At the home, police found a 28-year-old woman with serious wounds.

She was treated and airlifted to John Hunter Hospital in a serious but stable condition, where she remains.

A short time later, police saw the four-wheel drive on Stewart Parade, Tuncurry, and commenced a pursuit.

The driver allegedly then headed to a local petrol station and carjacked a second vehicle.

“I didn’t realise what was happening, I just thought it was a bit of road rage,” a worker at the petrol station told 9News.

“As soon as he hit the car, I called the local police.”

The driver allegedly then drove through a sportsground before crashing on the Forster Bridge, where he reportedly carjacked another vehicle, rammed a police car and injured an officer.

Police believe the pair were in a relationship and are treating the investigation as a domestic violence incident.© Nine

The pursuit ended on Idlewood Drive in Rainbow Flat where the man allegedly drove onto a property and entered a home, still armed with a knife, and tried to steal a fourth car.

The man then left that home and confronted police.

Officers deployed a Taser multiple times as the man allegedly ran to a neighbouring property and then toward an officer, still armed with a knife.

The officer discharged his firearm, shooting the man.

Police and paramedics rendered first aid, but the man died at the scene.

The man’s family told 9News he was a single father-of-three who lived with diagnosed schizophrenia.

Police believe he and the woman who was stabbed were in a relationship, and are treating the investigation as a domestic violence incident.

The man is yet to be formally identified but is believed to be 41.

A critical incident investigation is now under way.