The 25-year-old is in custody after the incident at Kingaroy in southern Queensland, which police say might be linked to domestic violence.
Police said multiple shots were fired at a house about 4am on Wednesday, with a number of people able to leave the property safely before officers arrived.
"It appears a male ... has shot a number of rounds from a high-powered rifle into an address," Superintendent Doug McDonald told reporters.
A woman who had been at the home was assisting police with enquiries but was "safe and well", he said.
The armed man sparked a police search when he fled the scene, evading officers throughout the day.
"As a consequence of that, police and the community took precautionary action," Supt McDonald said.
Kingaroy hospital was put into partial lockdown as police sought the man while a nearby school was shut down, ensuring no students attended on Wednesday.
The man is accused of stealing a car in an attempt to evade police before he was finally taken into custody about 1.30pm at Goodger, 15km from Kingaroy.
He was found in possession of numerous stolen high-powered rifles, Supt McDonald said.
"We'll allege that there are a number of firearms found in possession of that person of interest that was stolen from a break and enter approximately 24 hours prior to this incident occurring," he said.
Police said investigations were continuing but there was no ongoing threat to the community.