The Special Investigations Unit investigates all incidents involving police in Ontario in which serious injury or death result, but it wasn't immediately clear how police were involved in the altercation.
Emergency officials said the call came in at 9:11 p.m.
The shooting victim had no vital signs when emergency personnel arrived.
The stabbed male is in his 60s and has a neck wound.
Toronto police are asking people to avoid Spadina Road between Dupont Street and Lowther Avenue due to their investigation, while the TTC said in a tweet that it's diverting its 127 Davenport bus route around the area.