Man dies after alleged stabbing in Melbourne's southeast

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A man has died after being stabbed in an alleged altercation in Melbourne's southeast on Sunday morning.

He was one of two injured men who were found outside a property on North Rd at Ormond about 1.30am.

WATCH THE VIDEO ABOVE: Man dies after alleged stabbing incident at Ormond.

The man died at the scene. He is yet to be formally identified, Victoria Police said.

The other man, aged in his 30s, was taken to hospital with non-life threatening injuries.

7NEWS understands that a fight broke out at the residence and spilled out onto the street.

Two injured men were found on North Rd at Ormond, one of who died at the scene. Credit: 7NEWS

North Rd will be blocked to westbound traffic between Bethell St and OLoughlan St.

"The exact circumstances surrounding the man's death are yet to be determined, and the investigation remains ongoing," police said.

Any witnesses are urged to contact Crime Stoppers.