A man and woman have been arrested after a man was stabbed to death in a coastal Queensland town this morning.

Police allege two men known to each other had an altercation at an address on Ganter Street at Lammermoor near Yeppoon on Queensland’s Capricorn Coast around 7am.

A 27-year-old man was chased from the address through a backyard to nearby Maida Street, where he was later found to have been stabbed.

Police at the scene in Lammermoor. (Nine)

He died on the footpath, despite the efforts of paramedics.

The other man allegedly then returned to Ganter Street and fled the scene in a white Holden Crewman ute with a woman believed to be his partner.

The ute crashed at Hamilton Creek near Mount Morgan at 10.45am and police say the man and woman then approached a woman in a silver Hyundai Sante Fe and stole her car.

The woman was not injured.

Police later intercepted the Sante Fe near Gladstone using tyre spikes and arrested a 36-year-old man and 20-year-old woman from Berserker.

They have been taken into custody.

“We have a number of crime scenes active at the moment, where the deceased was located, the Ganter Street residence, also the two vehicles that this male person and his 20-year-old female companion were in,” Detective Superintendent Darrin Shadlow said.

“They have also been seized and are subject to forensic investigation.”

He said another residence in the area, where it’s believed the man may have been going to acquire weapons, was also being treated as a crime scene.

He said the man had been arrested for murder but further charges were likely.