The truck driver was arrested following the dramatic incident north of Toowoomba after police tried to intercept the vehicle about 1.30pm on Wednesday.
Police said two officers pulled up beside the truck in Meringandan and got out to arrest the driver when the truck rammed them and their vehicle.
The two men were seriously injured, with one, 56, taken to St Vincent’s Hospital in Toowoomba, and the other, 54, flown to Princess Alexandra Hospital in Brisbane with leg and internal injuries.
The vehicle hit two police cars a short time later in neighbouring Kleinton, with two more officers suffering minor injuries.
Darling Downs Superintendent Douglas McDonald said the truck then came to a stop and the 45-year-old man was taken into custody.
The truck was allegedly one of two vehicles stolen from a property in the nearby town of Oakey in the morning.
Two people in the other vehicle had also been arrested, he said.
“It shows how dangerous that police work is … trying to stop stolen vehicles in the area,” Supt McDonald told reporters.
The Queensland Police Union said it was providing assistance to the injured officers and their families.
President Ian Leavers praised the quick-thinking officers who provided first aid until medical teams arrived.
“Today’s incident shows the callous disregard criminals have for life,” he said.
“We could have had multiple police killed or critically injured this afternoon.”