Detectives from Whittlesea Crime Investigation Unit have charged two youths following an affray in Preston on Sunday afternoon.
Emergency services were called to a shopping complex on Murray Road just after 2.30pm following reports of up to 10 people fighting.
On arrival, a 20-year-old man was located with serious injuries.
He was transported to hospital, where he remains in a stable condition.
A 16-year-old boy from the Darebin area and a 15-year-old boy from the Melton area were arrested at the scene.
The pair have since been charged with affray, intentionally cause injury, possess controlled weapon and use controlled weapon.
The males have been remanded to appear at a children's court at a later date.
Two other males, one with injuries, have since self-presented to hospital.
The remains investigation ongoing, but at this stage, it is believed those involved are known to each other.
Additionally, investigators are keen to speak with anyone in the area at the time and anyone who may have witnessed the altercation.
Anyone with information or footage is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential report online at www.crimestoppersvic.com.au.