A teenage boy has been shot by police in Brisbane after allegedly threatening them with knives.

Just after 3am today, officers responded to reports of an armed person near the corner of Banksia Circuit and Ornata Place in Forest Lake, in the city's south-west.

On arrival, the two officers were allegedly threatened by a teenage boy armed with knives.

A 16-year-old boy has been shot by Queensland police after allegedly threatening them with a knife. (9news)

The officers were responding to a disturbance on Banksia Circuit in Forest Lake when the teen allegedly threatened them. (9news)

When the 16-year-old approached, both officers fired a single shot at him, with one hitting him in the lower abdomen.

Queensland Police Union President Ian Leavers confirmed that when the officers attempted to provide first aid to the shot teen, he resisted and injured a female officer.

The boy was taken to Princess Alexandra Hospital, where he remains in a stable condition under police guard.

A female officer's arm was injured when she tried to render first aid to the teen. (9news)

A female officer was also taken to hospital and treated for a suspected broken arm.

Mr Leavers says the officers were confronted by a dangerous and volatile situation and using a Taser wasn’t an option.

"They had no other options than to use their firearms," he said.

Detective Superintendent Tony Fleming confirmed the two were responding to reports of a disturbance at Forest Lake when they came across the teenager in a street.

"Unfortunately ... the officers, fearing for their safety, felt it necessary to discharge their weapons," he said this morning.

"This is a tragedy for the young man and his family."

Queensland Police Ethical Standards Command have launched an internal investigation into the incident. (9news)

He said police had the equipment to deal with dangerous situations but none ever want to have to discharge their firearm at work.

Mr Leavers said the two officers should be commended for doing what they did to save the boy's life in the aftermath of the shooting.

The Ethical Standards Command is investigating the incident and the boy has not been charged.

It is the second time in a fortnight Queensland police have opened fire on an armed person.