The Pulaski County Sheriff's Office (PCSO) says it happened Tuesday night shortly after five o'clock outside a home on Peters Road.
Jerry Alan Clendenin, 26, who lives on Peters Road, was stabbed several times in the back, the PCSO said.
Richard Virgil Lockwood, 26, of Cabot, was arrested and charged with battery in the case.
Witnesses told deputies that Lockwood drove up to a home where Clendenin was and yelled "Why are you talking about me?" to him. Witnesses said Clendenin then punched Lockwood, who pulled out a "foot-long" kitchen knife and stabbed Clendenin.
According to the incident report, Clendenin didn't realize he had been stabbed until others noticed he was bleeding.
When deputies arrived they noted a lot of blood on the victim, on steps where he was sitting, and on another man who was trying to help him.
Clendenin was flown to a Little Rock hospital by medical helicopter. His condition is unknown.
Lockwood was arrested by the Lonoke County Sheriff's Office at Shady Oak Trail and Kerr Station Road and then released to the PCSO. He was taken to UAMS for treatment for a minor cut to his hand and then taken to the Pulaski County Jail, where he's being held on $10,000 bond.