Police said emergency crews were called to the area of King Street East and Wilson Road North around 4:30 a.m.
Officers located three men at the scene, two of whom were suffering from stab wounds, police said.
Police said it’s believed the three men were involved in a disagreement which escalated into a physical confrontation. Two knives were reportedly found at the scene.
A police spokesperson told Global News one of the victims was initially found without vital signs, but became alert after emergency crews tended to him.
The victims, both 20 years old, were rushed to hospital. One of them was in serious but non-life-threatening condition, while the second man was in life-threatening condition.
Police said Tyrese Wisdom of Oshawa has since been charged with two counts of aggravated assault, possessing a dangerous weapon, and carrying a concealed weapon. He was held for a bail hearing, officers said.
Anyone with information is asked to contact police at 1-888-579-1520 ext. 1738 or Crime Stoppers anonymously at 1-800-222-8477.