Footage from Queensland Police shows a speeding car erratically crossing lanes on two major Gold Coast roads.
After several minutes the car stops due to a flat tyre, and a man emerges holding a large knife and a dog.
The man appears to threaten a motorist with the knife before running off the motorway in Thursday's incident.
Still clutching the dog, the man rushes into a residential area near Gold Coast Airport and enters a house.
Police said they confronted the man and he surrendered to them without incident.
A 24-year-old man was charged with a number of offences over the incident, including attempted robbery, dangerous driving and entering a dwelling with intent.
Local media named the man as Kayne Selfe and said he had been remanded in custody after a court appearance.
Police said the dog was found safe and well.
Australian police have released footage of a man who allegedly threatened a motorist with a knife while carrying a dog.