Officers responded to a call of a man threatening to throw a knife at family members at about 3 p.m. Sunday in the area of Bardsley Avenue and Vetter Street.
When they arrived, officers say they approached the man, he ran, starting a foot chase.
The chase ended when at least one officer opened fire on the man.
The man was taken to the hospital shortly after but later died.
Two officers involved in the shooting have been placed on paid administrative leave.
The Tulare County Sheriff's Office and the Department of Justice are investigating the shooting.