Police were called to Marstone Crescent, just off Baslow Road, in Totley, yesterday evening shortly after 6.30pm.
A South Yorkshire Police spokesman said: 'A 57-year-old male has allegedly been stabbed by a male teenager, who has then run off.'
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He added that nobody had yet been arrested and enquiries were ongoing.
The man's condition is not known at this stage, and there is no description of his alleged attacker.
Reports circulating on social media suggest the man was stabbed in the back in an unprovoked assault, but those details have not been confirmed by police.
The road was closed while officers investigated, but it reopened just after 6.30am this morning.
Anyone with information is asked to call police, quoting the incident number 718 of December 14.