One man has been seriously injured after he was targeted in a knife and shooting attack in the German city of Cologne, local media reported.

German newspaper Express reported two suspects remained on the run after the incident in the early hours of Monday morning, local time.

Police stand at the scene of an incident in the German city of Cologne on August 15. Credit:DPA

Several people called the police to Flandrische Street shortly before 4am (noon AEST) on Monday to report that three or four people seemed to be having problems with another man.

Eyewitnesses reported seeing the men attacking each other with axes, Express said.