Detective Senior Constable Lance Wiltshire said the incident occurred around 5am, with the man receiving multiple stab wounds to the chest and leg.
‘‘The male was assaulted at an address on Corio St and sustained stab wounds to the chest and leg,’’ he said.
Following the incident, the man returned to his home on Jonhson St where his housemates alerted Triple Zero to his injuries.
‘‘He made his way back home to an address nearby, where Ambulance where called and attended,’’ Sen Const Wiltshire said.
‘‘He was airlifted to Melbourne in a critical condition but is since now stable.’’
Following the alleged assault police established a crime scene, cordoning off Corio St and Johnson St, for most of the day.
Police confirmed this afternoon that a man in his 20’s was assisting police with their inquires into the matter.
They could not comment on the weapon used during the alleged assault.
Anyone who witnessed the incident or was in the area of Corio St and Johnson St around 5am on Saturday is urged to phone Shepparton Police on 5820 5777, Crime Stoppers on 1800 333 000 or submit a confidential report online at www.crimestoppersvic.com.au
Saturday: A man has been flown to hospital with serious injuries after a stabbing in Shepparton this morning.
Police are investigating with crime scenes on Corio St and Johnston St cordoned off.
"It is understood a 48-year-old man returned to his Johnson Street home about 5.15am to seek assistance after sustaining what appeared to be stab wounds,'' a Victoria Police spokeswoman said.
"He has been airlifted to hospital with serious injuries."
Police said the circumstances around the man's condition were yet to be established and that the investigation was ongoing.
Anyone with information should contact Crime Stoppers on 1800 333 000.
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