Law enforcement officers in London have shot dead a man they say was responsible for a spree of deadly stabbings in the city, the Guardian Newspaper has reported.

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Witnesses say that the man who was armed with a machete was chased by plain-clothed law enforcement officers who shot him along Streatham High Road.

The Metropolitan Police Department, who confirmed the stabbings, designated the incident 'terror-related.'

"A man has been shot by armed officers in Streatham. At this stage it is believed a number of people have been stabbed. The circumstances are being assessed; the incident has been declared as terrorist-related, " the Metropolitan Police said in a tweet as quoted by the Guardian Newspaper.

The British Broadcasting Corporation (BBC) said in its report that the man had just been released from prison where he had served time over terror-related offences.

He was subject to a live investigation and was considered by counter-terrorism authorities to be a significant risk to security.

Three people were injured by the man and one of them is said to have sustained life-threatening injuries.

Authorities said they contained the situation and an invesy has been opened into the incident to determine the motive and the exact circumstances.

"The situation has been contained and officers from the Met’s Counter Terrorism Command are now leading an investigation into the incident," Metropolitan Police's Deputy Assistant Commissioner Lucy D’Orsi said as quoted by NBC News.