Police said they were called to the area of Goreway Drive and Derry Road at 1:30 a.m.
It’s believed the victim, who is from Mississauga, was standing in a plaza when he got into a physical altercation with another man and was stabbed.
He was transported to a trauma centre but, as of Saturday morning, his condition was considered stable.
Police said the suspect fled the area after the stabbing and no arrests have been made.
It’s not known if the victim and the suspect are known to each other, but police said it “appears to be an isolated incident.”
Anyone with information is asked to contact police or Crime Stoppers anonymously.