Tasmania Police is responding to an incident on Prossers Forest Road at Ravenswood where a man has died and a woman has been critically injured.

Police were called to the house just after 3:30am after a report that a man known to the victims entered the house and inflicted stab wounds on the man and woman.

Two teenaged children were at the property at the time of the incident and are physically unharmed.

The woman has been taken to the Launceston General Hospital where she is in a critical condition.

Police are working to locate the offender who is not believed to be a threat to the wider community.

Members of the public are asked to avoid the area where the incident occurred while investigations are underway.

Further information will be made available when known, including advice of an interview opportunity.