Sergeant Shane Kervin of Echuca police said Ambulance Victoria notified police about a stabbing in Rose St at 8.15am.
Sgt Kervin said a 42-year-old male occupant suffered multiple stab wounds to his upper body and assault-related injuries to his face..
"He was taken to Echuca hospital by persons known to him before the ambulance arrived," he said.
"He has since been airlifted to Melbourne with serious but non-life threatening injuries."
A 35-year-old man is in custody yet to be interviewed.
Sgt Kervin said there were multiple occupants at the home at the time who were also assisting with inquiries.
"Detectives are still conducting their investigation," he said.
"The location remains a crime scene."
A neighbour said he didn't hear or see anything this morning, but heard screaming at the property last night.
Anyone with information about the stabbing can contact Echuca police on 5483 1500 or Crime Stoppers on 1800 333 000.
9°C