Kristopher Jason Arden, 28, has been charged with one count of assault with a weapon in connection with the incident. He is expected to make an appearance in territorial court later this month.
The victim approached police officers, who were patrolling 50th Street, at around 10:30 p.m. Saturday night to report the stabbing, said Const. Kerri Riehl.
He was taken to Stanton Territorial Hospital with "non-life threatening injuries" and released a short time later, she said.
Police believe the man was stabbed with a small kitchen knife, Riehl said.
Investigators say alcohol played a role in the stabbing.
The victim and another man were drinking at the Shaganappy Apartments in downtown Yellowknife when they began to argue, Riehl said.
The dispute escalated and the victim was stabbed once in the "bum," she said.