The incident happened Sunday night during a drum circle on the boardwalk on Ocean Front Walk and Breeze Avenue.
The victim, a man in his early 20s, was in the group playing drums when a crowd of onlookers gathered.
According to police, the victim was stabbed twice in the chest after some kind of fight broke out. He was listed in stable condition on Monday.
It was unknown what kind of object was used during the stabbing. Police said they don't know if the attack was gang related.
Officials said the assault is similar to one last week when onlookers not part of the drum circle caused trouble and someone was stabbed.
Anyone with information was asked to call police at (310) 482-6334.
City News Service contributed to this report.