A 26-year-old Smithton man has been charged with attempted murder following an isolated incident at Smithton last night.

Police were called to Lialeeta Crescent around 10.30pm after a man received significant wounds during an altercation. Police allege the men are known to each other and it is alleged a knife was involved.

The man was taken into custody at the scene and will appear before court this evening at 7pm.

The victim remains in a stable condition in hospital.

Police ask anyone with information or vision relating to the incident to contact Burnie CIB on 131444 or report to crimestoppers.com.au.