The shooting occurred around 4:24 p.m. in the 14440 block of Crystal Lantern Drive, the L.A. County Sheriff's Department said in a news release.
LASD said deputies responded to a family disturbance regarding a man attempting to set a home on fire with gasoline. The suspect allegedly tried to run over two deputies when they responded, which triggered a chase.
Eventually, the man stopped and ran out of the vehicle. Authorities said he then turned around and charged at deputies with what is described as a sharp object, possibly a screwdriver.
Authorities say deputies tried to stop him by shooting at him with "non-lethal" rubber bullets, but the suspect didn't surrender. That's when deputies opened fire, shooting and wounding the man.
Video showed a car in a family's driveway with the windows blown out by gunfire.
The man was taken to a hospital and is said to be in stable condition.
One resident said she heard three gunshots, followed by the sound of police cars and helicopters -- an unusual sighting for a neighborhood that is usually quiet, she added.
No deputies were injured in the shooting.
Anyone with information about the incident is asked to contact the L.A. County Sheriff's Department's Homicide Bureau at (323) 890-5500.