No weapons were involved in the confrontation.
A witness said he saw six police cars speeding north from Dunedin on State Highway 1.
As officers waited for reinforcements to arrive the 54-year-old man drove away and refused to stop when signalled, a police spokeswoman said.
After a "brief pursuit" the vehicle was spiked and the man arrested.
The man was due to appear in Dunedin District Court tomorrow on charges of failing to stop when signalled and threatening to kill/do grievous bodily harm.