A man arrested over a triple stabbing that left an 81-year-old woman dead in Townsville in north Queensland on Tuesday night had been released from prison that afternoon, police say.

The elderly woman was found on Wednesday morning after being stabbed in the chest at a home on Wright Street in Wulguru.

Police were alerted to the woman's death when a neighbour interrupted a press conference about the two other stabbings.

"She's dead ... my neighbour," the man shouted.

Superintendent Ray Rohweder said officers had knocked on the woman's door the previous night but no-one had answered.

"A neighbour of the deceased lady noticed her newspaper hadn't been collected this morning, and that gentleman went across to check that she was okay and it was he that discovered the body," he said.

A 26-year-old woman and 28-year-old man on the same street were also wounded.

A 32-year-old man was arrested and remains in the Townsville Hospital under police guard but is yet to be charged.

The 80-year-old was found dead by a neighbour this morning. ( ABC News: Nancy Notzon )

Detective Inspector Kelly Harvey said officers found the man roaming the street, naked, covered in blood, and armed with a knife and fence paling.

She said it would be alleged he had "gone on a rampage down the street".

"He's damaged fences and cars and come across an innocent male who has been stabbed in the face," she said.

Superintendent Ray Rohweder said the man assaulted several police officers, kicking one in the chest, and was eventually tasered.

"We certainly believe the male person was affected by drugs," he said.

"We certainly believe he was released from Corrective Services custody yesterday [Tuesday] afternoon."

He said the man was being questioned over all three attacks.

"I won't be silly about it — it's the lead theory that we've got that they are all linked," he said.