The victim was hospitalised with a 'serious' injury which required surgery, but was set to be discharged on Sunday evening.
Police were called to the incident, which happened in Lower High Street, at about 11pm on Friday.
They say the victim is 22-years-old and was stabbed in his lower back.
No arrests have yet been made and police are carrying out inquiries.
A West Midlands Police spokesperson, said: "A man was taken to hospital having suffered a serious stab injury in Wednesbury on Friday night.
"It happened in Lower High Street at around 11pm."