The 31-year-old man was knifed in the head, neck and arm in Kempsey Close, Oldbury, on Sunday evening.
Paramedics and police were called to the scene at about 8.20pm with police describing the incident as a domestic.
A man was treated for serious injuries at the scene before being taken to hospital and a second man was treated for minor injuries and also taken to hospital.
Forensic specialists remained at the residential road on Monday, where blood had been spattered across the floor and left on door handles and shoes that had been discarded at the scene.
The 26-year-old suspect remained in police custody on Monday.
A spokesman for West Midlands Police said: "We are investigating after a 41-year-old man was stabbed in Kempsey Close, Oldbury at about 8.20pm yesterday.
"It is understood the man suffered a number of stab wounds to his head, neck and arm in a domestic incident.
"He was taken to hospital for treatment for his injuries and is currently in a critical condition.
"Shortly afterwards we arrested a 26-year-old man on suspicion of attempted murder. He remains in police custody this afternoon for questioning.
"Officers recovered a knife from the scene and enquiries are continuing to establish exactly what happened."
Jordan Eggington, spokeswoman for West Midlands Ambulance Service, said: "We were called at 8.19pm last night to reports of a stabbing in Kempsey Close, Oldbury.
"We sent two ambulances, one paramedic officer and the MERIT car with a doctor and critical care paramedic on board.
"Crews treated a man at the scene for serious injuries and he was taken to hospital by ambulance with the MERIT team on board.
"A second man was treated for minor injuries and taken to hospital for further treatment.”
Anyone with information is asked to contact police online or by calling 101, quoting log number 20SW/227601U/20.
Alternatively Crimestoppers can be contacted anonymously on 0800 555 111.