Surrey RCMP said the man's condition improved after arriving at hospital, and he's expected to survive.
The incident happened around midnight outside a house on 102 Avenue near 140 Street.
Two young men were arrested at the scene, but Surrey RCMP said just one person was taken into custody. It wasn't immediately clear whether the arrests were directly related to the stabbing, or whether they were for some other offence.
Surrey RCMP's Serious Crime Unit is handling the investigation.