A party in Kangaroo Flat held earlier in the week ended with a 17-year-old taken to hospital after being allegedly stabbed by a man.
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Police are investigating the alleged assault and stabbing after officers were called to a property on Olympic Parade just before 11pm on April 3.
It is understood the Kangaroo Flat teenager was leaving a party when a 20-year-old man allegedly stabbed him.
The boy was transported to hospital with non-life-threatening injuries that night.
Police believe that the 20-year-old, from Castlemaine, allegedly fled the scene on foot before police arrested him just before midnight on High Street.
When the Castlemaine man was located by police, he appeared to have been serious injured and was transported to hospital under police guard.
The circumstances surrounding how the man sustained his injuries are yet to be determined and the investigation remains ongoing.
Police are appealing to anyone with information about the alleged stabbing or witnessed the incident to contact Crime Stoppers on 1800 333 000 or www.crimestoppersvic.com.au.