Man 'armed with knife' shot dead by police at Airlie Beach

A man allegedly armed with a knife has been shot dead by police in Queensland.

Queensland Police said officers were approached by a man aged in his 20s on Shute Harbour Road, Airlie Beach, around 12.20am.

"The man allegedly threatened officers advancing on them and was subsequently shot," police said.

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Officers tried to help the man who was taken to Proserpine Hospital but was declared dead a short time later.

A crime scene has been established and police are investigating.

The incident is also being investigated by the Ethical Standards Command and is subject to oversight by the Crime and Corruption Commission.