Police have shot a man in Far North Queensland following reports he approached them armed with a knife.

Queensland Police said the man was shot just after 10:30am in the Cairns suburb of Kanimbla.

Police rendered first aid before the man was taken to Cairns Hospital in a critical condition.

The Queensland Police Ethical Standards Command is investigating the shooting, with oversight from the Crime and Corruption Commission.

It is the second police shooting in the state today, after a man was shot dead by police at Caboolture, a suburb north of Brisbane.

More to come.

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