Police were responding to a domestic violence call on the 300 block of West Courtland Street just after 11:00 Monday night.
When police arrived they say they found the 32-year-old man with the knife standing over a 23-year-old woman, whose face was already slashed.
Police say when they told the man to drop the knife he lunged at them. So, an officer opened fire.
The man died at the scene.
The woman is expected to recover.