Police said the short pursuit was started just after 3pm due to alleged dangerous driving.
The driver continued through a roundabout at the intersection of Avondale and New Brighton Rds while clipping another vehicle and stopping.
The driver and his two female passengers then fled on foot, and the man jumped into the river.
He was eventually detained after getting out of the river when the dog unit was called.
Another passenger was found but released without charge.
A police spokeswoman said a 30-year-old man will appear in court on Friday on a range of driving-related and other charges.