Casey Crime Investigation Unit detectives and Critical Incident Response Team officers arrested a 39-year-old man following a stabbing in Narre Warren North on 2 October.
Investigators have been told a man and a woman were walking along a track near Drysdale Avenue and Settlers Hill Place when they were approached by an unknown man about 6.50am.
It is alleged the man attacked the pair with a sharp-edged weapon before running from the scene.
A 70-year-old Narre Warren man and a 57-year-old Pakenham woman were taken to hospital with non-life-threatening injuries and have since been released.
Police executed a warrant at a Narre Warren address this morning and arrested a man about 10.30am.
He is currently assisting police with their enquiries.