Danish news agency Ritzau reported that officers were called to the man's apartment in Rønne just before 2am on a noise complaint from a neighbour. When officers tried to confiscate the man's stereo, he became agitated and stabbed one of the officers.
“The man stabbed one officer several times with a knife. That led to police firing shots,” Bornholm Police Inspector Peter Jørgensen told Ritzau.
After shooting the man, police administered first aid until an ambulance arrived to transport him to Bornholm Hospital.
Just after 3am, the 48-year-old was declared dead.
The officer who was stabbed received emergency treatment and was released from hospital.
Bornholm Police said the Independent Police Complaints Authority (Den Uafhængige Politiklagemyndighed - DUP) would fully review the incident.
“Our colleagues have not been questions yet and they won't be until DUP comes to the island. That will happen sometime this [Thursday] morning,” Jørgensen said.
A DUP review will determine whether the officers will face disciplinary action or if the shooting was justified.