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A police spokesman said inquiries were ongoing into the Wilkinson St incident, which left one person in hospital with a broken leg.
The wanted man was believed to have been wielding a knife.
Police swooped on the suburb of Liberton after the apparent assault last night.
A police spokeswoman said they received a report shortly after 7pm of a man with a knife in Wilkinson St and a victim with a broken leg.
Police were searching the area, she said.
There was a heavy police presence at the scene about 7.30pm yesterday and officers called for an ambulance and a dog team.
A car was parked in the middle of the street as an agitated person in the passenger seat remonstrated with officers.