The North Vancouver resident suffered burns to more than 50 per cent of his body, said a statement from Cpl. Richard De Jong of the North Vancouver RCMP.
He has been placed in a medically-induced coma at Lions Gate Hospital, it added.
Police say the incident happened when two men got into a fight on Saturday afternoon after drinking alcohol all day.
A 34-year-old man, also of North Vancouver, has been arrested and charged with attempted murder, said Cpl. De Jong.
He is due to appear in court on Tuesday.
Police are not releasing the names of the victim or the suspect.