A Victoria Police spokeswoman said the man was subdued with capsicum spray after holding the woman at knifepoint for about 40 minutes.

The man had been walking around the Waurn Ponds campus with the woman before he was arrested.

The dog squad and critical response unit were on their way to the scene but have since been called off.

Paramedics have taken a person to Geelong Hospital from the scene believed to be with minor injuries.

An Ambulance Victoria spokesman said he could not yet say whether the patient was a male or female or their injuries.