Police were called to the scene at the Workmen's Club, on Front Street, Cramlington at 10:27 GMT by the ambulance service.
The victim was treated at the club by paramedics and taken to hospital but died from his injuries.
Officers have arrested a 35-year-old man and a 36-year-old woman on suspicion of murder and they are in custody.
Det Ch Insp Lisa Theaker, said: "We know the club was very busy at the time of the incident and police are asking for anyone who was there at the time on Christmas Eve to please get in contact as they may be able to help us with our inquiries."
A 19-year-old man has died after being stabbed at a club in Northumberland.