A 63-year-old man has died after suffering multiple stab wounds during an altercation at Ipswich.

Police were called to a unit block in Redbank about 10.25pm on Saturday following reports a man had been stabbed.

The 63-year-old Riverview man suffered several serious wounds, and despite being treated by paramedics, died at the scene.

A 28-year-old Boronia Heights man was taken into custody and is being interviewed by police.

A crime scene has been established as police work to determine the circumstances of the incident.

-AAP