Police said it was understood the two men were stabbed by a third man, who was unknown to the pair, outside a business on the corner of High St and St George’s Rd about 8.45pm.
Police said it was understood a verbal altercation occurred between two men and a third, unknown, man outside a residence on St George’s Rd about 8.40pm.
Officers have been told the two men then left the address and walked to a nearby bottle shop on the corner of High St and St George’s Rd, where a physical altercation occurred between the trio.
During the altercation, police believe the third man produced a knife and stabbed the men, before fleeing on foot.
An 18-year-old man from Shepparton and a 23-year-old man from Kialla were both taken to Goulburn Valley Health with non-life-threatening injuries.
An Ambulance Victoria spokesperson said the younger man was treated for a lower body injury, while the older one suffered an upper body injury.
It is expected the pair will be interviewed by police in relation to the affray.
Police said while the 18-year-old and the 23-year-old were known to each other, it was understood the third man was not known to the pair.
Detectives have released images and CCTV footage of a man they believe might be able to assist with their inquiries.
The man is perceived to be Aboriginal/Torres Strait Islander in appearance.
He was seen wearing a black puffer jacket and black tracksuit pants.
The exact circumstances surrounding the incident are being investigated by police.
Anyone who witnessed the incident, has CCTV, dashcam footage or any other information that could assist police is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential report online at crimestoppersvic.com.au