The 23-year-old was arrested after a man, 40, was stabbed on Emerson Crescent in Parson Cross on Monday afternoon.
The injured man is still in a serious but stable condition in hospital.
Police attended the scene at around 3.50pm where officers cordoned off surrounding roads where the incident took place.
Foresnic units were also deployed to the area as they carried out their investigations.
If you have information call 101 or email [email protected] quoting incident number 683 of 2 August 2016. You can also give information to Crimestoppers anonymously on 0800 555 111.