Paramedics attended an address at around 2.35am, reporting that the man had been found with four stab wounds to the left side of his chest.
He was taken to Royal Preston Hospital where he remains in a serious but stable condition.
DI Bev Foster from Lancaster’s Public Protection Unit said: “This man is lucky to be alive given the injuries he sustained.
“I am asking anyone who knows about this attack or who may have witnessed anything that could be connected in the area before the incident to get in contact with us.”
Two people, a woman aged 57 from Manchester and a man aged 27 from Morecambe, were arrested on suspicion of wounding with intent but have been bailed pending further enquiries until November 16.
Anyone with information can call Lancaster Public Protection Unit on 01524 596760 or if they fail to get an answer, they can ring 101 quoting incident reference 187 of August 29th.
Crimestoppers can be contacted anonymously on 0800 555 111 or online at Crimestoppers-uk.org.