The shooting happened around 8:47 p.m. at the intersection of Grape and 97th Streets in Watts following a chase that started in South Gate.
According to police, officers were following the suspects' vehicle because they believed the men inside were involved in a carjacking that ended in a stabbing at Montara Avenue in South Gate.
As the suspects tried to flee on foot after crashing in Watts, sheriff investigators say three officers shot at two armed men, hitting one.
One of the suspects was taken to the hospital. The second suspect was detained.
No officers were injured.
The Los Angeles County Sheriff's Department will be handing the officer-involved shooting for the South Gate Police Department.
No further information was available.