A man has been arrested four days after he allegedly attacked his parents and brother with an axe, leaving them with “very extreme” injuries.

The manhunt for Peter O’Ryan, 48, began on Saturday just after 12.30pm when emergency services were called to a home on Cowies Rd near the small town of Tyers in rural Victoria.

On Sunday, Victoria Police Senior Sergeant Rod Findlay said Mr O’Ryan allegedly attacked his brother Paul, 47, and then his parents, Janine and Keith, after an argument.

“The injuries are very, very extreme … a lot of injuries requiring really serious treatment by the ambulance, and then they’ve been flown for immediate surgery down to The Alfred hospital,” he said.

Mr O’Ryan’s brother and father were flown to hospital with life-threatening injuries and remained in a critical condition on Tuesday night.

His mother was rushed to hospital with critical injuries and is now stable.

Police said Mr O’Ryan fled the scene and was still believed to be armed shortly after the alleged attack, sparking a days-long manhunt in the rural area.

Just before 9pm on Tuesday, police were told Mr O’Ryan had been “suspiciously loitering” near Tyers-Walhalla Rd.

He was arrested and will now be interviewed by investigators.

Police said Mr O’Ryan was a “rough sleeper” with no fixed address and was known to police prior to the incident.

No charges have been laid.