Ultimately, the car scraped and sparked along the roadway until it caught fire near the Thunderbird Falls exit.
The suspect jumped out, and Troopers say he was carrying a baseball bat. He then ran toward the Northbound lanes of the highway.
Troopers tried to arrest him, but the man would not surrender. They tried to use a Taser on the man, but were not able to subdue him. Troopers say the man stopped running and advanced at three Troopers with the raised bat.
"At one point he ultimately attacked the Troopers on-scene with the bat. He was shot and killed," said Col. Keith Mallard, Director of the Alaska State Troopers.
The shooting happened at about 4:20 a.m.
Mallard said that whenever a Trooper is involved in a deadly force incident, the Trooper is placed on leave while the matter is investigated.
Troopers have identified the suspect, but are withholding his name until next of kin are notified.
This is the sixth time this year that Alaska State Troopers have fired on a suspect. It was the first time this year that such a shooting incident resulted in a fatality. No troopers were hurt in today's incident.
So far this year, none of the shooting incidents has ended in any criminal charges being leveled at Troopers.
The incident led to major rush-hour delays for commuters, as Troopers blocked off both lanes of the highway -- southbound due to the burned vehicle, and northbound due to the shooting.
"We're losing time from work, but I'm sure that everybody on the road is, you know, having the same situation," said commuter Chad Mills.
"I sat on the Knik River Bridge for, I would say almost an hour. It's really been very, very slow," said another commuter, Kay Vashal.
The southbound lanes were rerouted to handle traffic in both directions and all traffic headed north was escorted via pilot cars.
Troopers say the traffic situation was "slow-going" for the next couple of hours and the Anchorage Police Department was on scene to assist traffic control.
APD Public Info announced that all lanes on the Glenn Highway were reopened just after 12:30 p.m. Friday.
KTUU's Corey Allen-Young, Amberia Hill, Neil Torquiano, and Kortnie Horazdovsky contributed to this story.