Photo: NEWS

The incident follows a theft and assault at a liquor store in Dandenong this afternoon involving the two men.

The pair fled in a stolen vehicle and were reported to be armed with a knife and hammer.

Police later sighted the vehicle about 7.15pm on the Princes Highway, Dandenong.

The vehicle was reported to accelerate towards police and a police officer fired one shot at the vehicle.

The vehicle continued onto Gwenda Street where the vehicle was dumped and the occupants fled on foot.

No police members were injured during the incident and the investigation is ongoing.

Professional Standards Command will oversee the investigation as per standard protocol when a firearm has been discharged by a member.

Anyone with information is urged to contact Crime Stoppers on 1800 333 000.