A man has died and another one is in critical condition following a stabbing at St Peters today.

About 1pm today (Wednesday 6 November 2019), police were called to the Princes Highway, St Peters after receiving reports that two men had been stabbed at a construction site.

NSW Ambulance paramedics treated the men, but despite their efforts, one man died at the scene. The other man has been taken to Royal Prince Alfred Hospital in a critical condition.

Officers from Inner West Police Area Command attended the scene and were told a third man had fled the scene.

It is believed the people involved are known to each other.

A crime scene has been established and a large-scale search is underway to locate him.

The man is described as being of Caucasian appearance, about 180cm tall, with a large build and a shaved head.

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He was last seen wearing a high-vis yellow shirt, long blue work pants and brown work boots.

If he is seen, police urge the public not to approach him, but call Triple Zero immediately.

More information will be provided once it becomes available.

NSW Police