The incident began on the 5700 block of Overbrook Avenue around 3:05 p.m. in the city's Wynnefield section.
Officers responding to a dispute between a landlord and tenant encountered a man, who has been identified as Koffi Dzima, armed with a handheld pickaxe and hammer.
The suspect approached one of the officers with the weapons in each hand as he neared the front door, police said.
The officer ordered Dzima to drop the weapons, but police said the commands were ignored and the officer deployed his Taser.
Dzima fell to the floor inside the home as the officer, along with another officer and a few other people, ran toward the driveway.
Officers said despite the Taser, Dzima approached the officer and hit him in the head with the hammer.
The officer fell to the ground and police said Dzima, who was still armed, stood over the officer. At that point, both officers shot Dzima, police said.
The officer who deployed his Taser suffered at least one gunshot wound to the leg. He is currently listed in stable condition at an area hospital. The second officer was not injured.
Dzima was taken to Lankenau Hospital, where he was pronounced dead at 3:29 p.m.
It's still unclear how the officer was struck by gunfire.
Police said the incident was captured on the officers' body cameras.