Two males have been arrested and a third is on the run after a station wagon crashed in Northcote's main shopping strip on Saturday.

Victoria Police spokesman Alistair Parsons said the vehicle smashed into parked cars in High Street, near the corner of Mitchell Street, shortly before 2pm.

"Two males were arrested following a car crash in Northcote," he said.

"Police are currently searching for one other occupant of the vehicle.

"No one was injured.

"The car was displaying stolen number plates but we don't know if the car was stolen."

The driver had sped off after police patrolling High Street drove past.

MFB spokesman Bruce Weaver said up to six vehicles were hit.

The station wagon took off in north-bound direction before crashing into a kerb and losing a tyre.