A NSW Police critical incident investigation has been launched after a police shooting in Dareton on Friday afternoon

Just after 3.30pm police attached to Barrier Local Area Command were called to a home on Neilpo Street, Dareton, following reports a man had been stabbed.

On arrival officers were allegedly confronted by a man armed with knives.

One  officer discharged a taser, as a second officer discharged his firearm, with the man sustaining injuries to his arm.

The officers treated the man at the scene until the arrival of NSW Ambulance paramedics who conveyed him to Mildura Base Hospital.

The 41-year-old man is in a serious but stable condition. His injuries are not considered life threatening.

Inside the home, a 63-year-old man was found with a number of stab wounds.

He was also treated by NSW Ambulance paramedics before being taken to Mildura Base Hospital. His is in a serious but stable condition.

A crime scene has been established and a Critical Incident Team will now investigate all circumstances surrounding the incident, including the discharge of a police firearm.

That investigation will be subject to independent review.

No further details are available at this time; however, police are not looking for any other parties