A manhunt is underway in Melbourne’s outer south-east after a woman was slashed with a knife in a terrifying armed robbery this morning.

The woman was walking along Matthew Flinders Lane in Endeavour Hills at about 4.15am when she was approached by a man with a knife.

The man is believed to have threatened her before slashing her stomach with the knife, leaving her with lacerations.

The man fled with the victim’s credit cards.

He remains on the run.