The officer suffered serious arm injuries after being struck by the vehicle during the arrest in the early hours of Tuesday morning.
The incident occurred in Mellowes Crescent, Finglas, following a cross-city pursuit of the stolen taxi.
The taxi driver was also lucky to escape serious injury after the two men tried to stab him, but the knife did not get through his jacket’s material.
It has now emerged that the Garda’s colleagues had to give first aid immediately at the scene, with one source stating that the officer’s arm was saved due to the quick response of a fellow officer.
It is understood that the member who applied first aid is part of the Dublin-based Burglary Response Unit (BRU), set up to combat roaming crime gangs and robbers.
This unit was involved in the pursuit of the hijacked taxi, which travelled from the Cabra area and on to the M50 before being stopped in Finglas.
A Garda patrol vehicle and an unmarked car hemmed the stolen taxi in before the men were detained.
Two men were last night continuing to be questioned in Garda custody following the high-speed chase.
The men – a 39-year-old from west Dublin and a 27-year-old from the north-inner city – are being held at Finglas Garda station.
Gardaí received reports that a taxi had been hijacked on the Ballyboggan Road at about 2.30am on Tuesday.
The taxi driver had picked up two males, who demanded that he hand over the Toyota Avensis.
“They pulled him by the seatbelt, pinning him into the seat.
“One pulled a knife and tried to stab the driver in the stomach,” a source said.
“The knife didn’t go through the jacket.
“The driver is lucky to be alive after he was nearly stabbed twice.”
The stolen vehicle was spotted on the M50 and was eventually stopped by Gardaí in a cul-de-sac on Mellowes Crescent.
At least half-a-dozen unmarked and marked Garda cars, as well as a helicopter from the Garda Air Support Unit, were involved in the pursuit.
The scene where the hijacked car was stopped remained sealed off for a number of hours throughout Tuesday so that the vehicle could be examined.
One neighbour in Mellowes Crescent described waking up to the noise of squad cars and shouting.
“There was a massive commotion.
“I originally believed that someone had been shot,” the witness said.