A 32-year-old man has been charged with murder and attempted murder after a man died and a woman was seriously injured at a home in Melbourne's north.

A major manhunt was launched to find Shaun Sanderson, 32, after a violent incident at a property in Reservoir on Wednesday morning.

A 29-year-old man died and a 65-year-old woman was seriously injured at the Willoughby Street home just after 8am on Wednesday.

Sandersen was arrested at a busy intersection near Preston Market hours later at about 2.40pm.

The 32-year-old, from Reservoir, has since been charged with murder and attempted murder.

He was remanded to appear at Melbourne Magistrates Court on Thursday.

The woman is recovering in a stable condition in the Royal Melbourne Hospital.

Police on Wednesday confirmed the parties knew each other.