The incident occurred about 6:15 a.m. at the intersection of Reseda and Victory boulevards, according to the LAPD.
The shooting took place after the officers saw the unidentified man holding "a large kitchen knife," police said. He was struck by gunfire and transported to a hospital in unknown condition, authorities said.
No officers were injured.
An investigation by the LAPD's Force Investigation Division is underway, the agency said.
DEVELOPING: More details will be added to this report as they become available.