Police were called to Baxter Avenue in Kidderminster at 1.45pm on Tuesday afternoon, where they attended a "serious incident" involving two 40-year-old men.
Both men found with stab wounds were arrested on suspicion of assault and taken to Birmingham's Queen Elizabeth Hospital.
One man has since been released from hospital and is now in police custody. The second man remains in hospital but his injuries are not believed to be life changing or life threatening.
A cordon which was initially put in place on Baxter Avenue but has now been removed.
Detective Chief Inspector Gerry Smith, said: “Our investigations into this incident are continuing and so you may notice an increased police presence in the area today. This is both to assist with the investigation and to offer reassurance to the local community.
“This was an isolated incident between people known to each other and there is no risk to the wider public.”
A spokesperson for West Mercia Police said: "Anyone who has any information which may help with the investigation is asked to report it online under the Tell Us About section of the West Mercia Police website quoting reference 321 of 9 July. If you are unable to report online please ring 101.
"Alternatively, if you have information but don’t feel comfortable speaking to police, you can speak to the independent charity Crimestoppers. It is 100% anonymous, they never ask your name and they cannot trace your call or IP address. You can contact them online or by calling 0800 555 111."