Police chased two men through an Australian suburb on Monday afternoon before a 43-year-old was subdued with a Taser and arrested after allegedly carrying two knives.

Officers were called to a shopping complex in Burwood at about 4:15 p.m. after reports of suspicious activity in the busy hub.

When police moved in to speak with two men, they allegedly ran, triggering a foot pursuit through the area.

The chase ended when officers deployed a taser and arrested a 43-year-old man, who police allege was armed with two knives.

Video from the scene shows two officers closing in on a man dressed in black on a pedestrian crossing as traffic waits nearby.

One officer then fires a Taser, bringing the man down.

As he attempts to get back up, he is tasered again before being swarmed by police.

New South Wales Ambulance paramedics assessed the 43-year-old at the scene before he was taken to hospital for further assessment under police guard.

A 32-year-old man was also arrested.

Police inquiries are continuing.