The victim was found injured in the street following the attack in Sycamore Drive, Airdrie, at about 03:10.
Police said the attacker returned to the house in nearby Hawthorn Drive and assaulted a 25-year-old woman before escaping, possibly in a waiting car.
The man was described as white, wearing dark clothing and white footwear.
The male victim, who was also badly beaten, is being treated at Monklands Hospital.
Police are studying CCTV footage to establish how many people were involved in the attack.
Det Insp Martin Fergus said: "At this time we know that following the disturbance in Hawthorn Drive, the injured man was chased into Sycamore Drive where he was attacked.
"Thankfully a member of the public came to the aid of the man and called the ambulance. He was stabbed and beaten in what I would describe as a savage attack.
"We know the man who chased him returned to the house in Hawthorn Drive and attacked a 25-year-old woman within before making off.
"The woman was taken by ambulance to Glasgow Royal Infirmary where she was treated and has since been released."
Det Insp Fergus added: "Although this happened in the early hours of the morning, we know that a number of taxis were in the area either dropping off or picking up people in the street at the time.  I would appeal to taxi drivers, or indeed anyone who was in the area, to contact police.
"There would also have been some considerable noise in the street as a result of the attack so people in the area would have heard, if not seen, what had happened."
A 32-year-old man is in a critical condition after being chased from a house and stabbed in what police are treating as an attempted murder.