The 55-year-old, who police said was armed with a knife, had allegedly threatened police at the jetty on Wharf Street, Toronto, before he set sail into the lake shortly before noon.

Police had hoped to arrest the man over an outstanding warrant.

It is understood the man’s vessel had been deemed unseaworthy by Roads and Maritime Services and was in the process of being impounded.

During the siege, the man had lit small fires at the back of the boat and allegedly threatened police numerous times.

He also allegedly attempted to fire a flare at police, but the flare failed to ignite.

The man, who was moored about 200 metres offshore in Carey Bay for most of Tuesday, tried to move the boat about 3am on Wednesday.

Tactical police moved on board the vessel to arrest him.

The man jumped into the water, police said, before swimming to shore where he was arrested.

He was allegedly in possession of a knife and a tomahawk. 

He was charged with an outstanding warrant, using an offensive weapon and throwing a missile at a police officer in the execution of their duty. 

He was refused bail and is due to appear at Newcastle Local Court on Wednesday.

The Herald, Newcastle