Police were called at 6.10am after reports a man had been stabbed on Wath Road.
Officers say a 41-year-old man was taken to hospital with serious injuries, where he remains at this time.
A 41-year-old man was arrested near the scene and remains in custody.
Enquiries are ongoing and officers were still on the scene early this afternoon.
South Yorkshire Police said in a statement: “This is being treated as an isolated incident.”