Armed police raced to Meeks Road just before 9am after being alerted to a call concerning a man’s welfare.
Other emergency services also attended the scene along with trained negotiators to try to bring the situation to a safe conclusion.
The stand-off continued for a further five hours, however, as the man moved with the weapon towards Falkirk Grahamston train station and Meeks Road car park near Morrisons supermarket before being finally resolved at around 1.15pm.
British Transport Police placed Falkirk Grahamston train station into lockdown while cordons were also placed around Morrisons car park during the incident.
Police have now deemed the area ‘safe’ and the individual concerned is believed to have been taken into custody.
A Police Scotland spokesman said: “An official statement will be released later but I can confirm the incident has now been resolved.”
Roads affected have been re-opened to traffic and police have lifted all cordons at the scene.
Rail services are also in the process of being reinstated however Scotrail say delays and cancellations may still be experienced.