SAN JOSE — An officer shot and killed an allegedly armed suspect while responding to a report of a stabbing Monday night, police said.

The stabbing was reported around 6:15 p.m. near the intersection of Third and Martha streets.

The officer found several witnesses, the suspect and two stabbing victims — a male and a female — in front of a home, according to Sgt. Enrique Garcia of the San Jose Police Department.

Garcia said the officer opened fire on the suspect, who was allegedly armed with a knife. The suspect was pronounced deceased at the scene. His identity was withheld pending notification of next of kin.

The officer was not injured.

The stabbing victims were transported to a hospital with life-threatening injuries, said Capt. Tim Miller of the San Jose Fire Department. As of 11:45 p.m., the female victim was in stable condition and the male victim was in critical condition, but he was expected to survive, according to Garcia.

Martha Street between Second and Third streets was cordoned off with orange caution tape as officers combed the scene for clues.

Tia Faanoa, 51, who lives nearby, was returning home from work around the time the stabbing was reported. His wife told him she heard four gunshots. He said he has lived in the neighborhood for eight years and has seen an uptick in crime. His car was stolen Monday morning.

“This neighborhood is just getting worse and worse,” he said. “This is something I don’t want to see coming home from work.”

Garcia said the officer was placed on paid administrative leave. and an internal investigation has been launched in conjunction with the Santa Clara County District Attorney’s Office, which is routine after officer-involved shootings.

The officer-involved shooting is the first of the year in San Jose. Last year, there were a dozen such shootings, six of which were fatal. That was the highest number in more than a decade.

Anyone with information about the case can call Detective Sgt. Bert Milliken or Detective Raul Corral of the San Jose Police Department’s Homicide Unit at 408-277-5283. Those wishing to remain anonymous can call Silicon Valley Crime Stoppers at 408-947-7867.

Staff writer Robert Salonga contributed to this report. Contact Jason Green at 408-920-5006. Follow him at Twitter.com/jgreendailynews.