I'm not certain that what you have quoted is actually a threat, but there is no harm in reporting it to the police. They will take a report and may investigate.
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If you have a reasonable fear of imminent danger, you should report the threat to the police. If you do not feel in imminent danger, then reporting to the police might not be called for at this time. Be sure to report the threat to your supervisor, and to HR if your company has one. Your employer has a duty to act reasonably to protect you against workplace violence, and it has certain tools given to it by the law to effect that protection.
Good luck to you.
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Is the quoted remark in your heading the only statement made by this co-worker? That is not a threat, and a report to the police about that statement will engender no interest or action from law enforcement. In fact, that remark, standing alone, does not explain why you would fear for your safety. Frankly, if this statement is all that has occurred, your employer very likely does not have a legal obligation to take any action at all.
Perhaps there are more facts that explain this situation? What is the context of the co-worker's s statement. Did he/she make any effort to harm you? What was your employer's course of conduct after the assault against your other co-worker?
No legal advice here.
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