The incident began around 3 a.m., when officers responded to a report of a stabbing in the 800 block of Amesti Road, sheriff's officials said.
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Upon arrival, officers found two people suffering from stab wounds. One of the victims suffered critical injuries, while another suffered serious injuries, according to sheriff's officials.
The two victims were taken to a hospital.
Deputies then searched for the suspect, but he had already fled the scene.
About 10 minutes later, deputies found the suspect nearby, still armed with a knife. Deputies tried to engage the suspect and used various less-lethal weapons to try to detain him, sheriff's officials said.
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The suspect however then advanced on deputies with the knife and a deputy shot at him at least once, according to sheriff's officials.
Paramedics treated the suspect, but he was pronounced dead at the scene, sheriff's officials said.
The identity of the suspect not been released.
ABC7 News contributed to this story.