It was the first use-of-force footage released by police since the department started its body-worn camera program.
The name of the man, who is expected to survive, has not been released. Police said he is in his 40s, and most recently was living with relatives.
He was waving two knives and threatening people at a bus stop at Greenmount Avenue and 33rd Street when police arrived on the scene. There were multiple attempts to get the man to drop the knives, police said.