Victoria police say Joshua Tyler Bredo was arrested and charged in the death of 20-year-old Daniel Jordan Levesque, who was injured in an apartment Aug. 3, 2011.
Levesque died after he was stabbed in a Cormorant Street apartment during what was described as a fight.
Another man was also injured in the incident and was treated in hospital, and later released after he'd been arrested by police.
Joshua Tyler Bredo was initially charged with second-degree murder, but that charge was stayed in December 2011.
RCMP Const. Margo Downey, with the Vancouver Island Integrated Major Crime Unit, said officers continued to investigate the death, and tracked down new information in the past year.
Crown counsel approved a charge of first-degree murder for Bredo on Friday.
Bredo was arrested Saturday in Okotoks, Alta., south of Calgary.