The victim, believed to be in his 20s, is in a critical condition in an east London hospital, while another victim was found by officers with stab wounds to his hands.
London Ambulance Service and London’s Air Ambulance also attended the incident and the area has been cordoned off.
The Metropolitan Police said on Twitter: ‘Two people have been arrest following a stabbing in #Barking.
In a separate incident, a man has been taken to hospital in a life-threatening condition after being stabbed in Hackney.
Scotland Yard said officers were called to Brooke Road at about 5pm on Sunday and that no arrests had been made.