It happened Sunday night around 9:40 inside a home in the 100 block of SE 3rd Street.
The BPD says officers were called to the scene for a physical altercation involving a knife.
When police arrived, they found Ismael Tagle-Carreon, 35, lying on the kitchen floor with several stab wounds and what was described as a red handled pocket knife.
The victim was bleeding severely and was unresponsive when paramedics arrived, and they could not revive him. He was pronounced dead at the scene by the Saline County Coroner.
Police say the suspect was still on the scene and officers learned that he had been arguing with the victim and had been struck in the face. He is identified as Itzamanna Jiminez-Jasso, 34,
Witnesses told police the argument between the men had escalated and then ended with Jasso stabbing Carreon in the chest and torso.
Jasso is being held on a charge of second degree murder at the Saline County Detention Center. A bond hearing for him has been scheduled for Wednesday.