Police say they were called upon to make a welfare check on Popondetta Road in Blackett just before 6am on Saturday.
Officers found a 40-year-old man in the middle of the road, who had suffered cuts to his neck.
He was treated by them before paramedics arrived and then taken to Westmead Hospital, where he died a short time later.
A crime scene was set up, which was examined by forensic police.
After making some inquiries, detectives arrested a 24-year-old man at a property on George Street in Kingswood about 11.30am on Saturday.
He was charged with being an accessory after the fact to murder.
About 6.45pm that evening police arrested a 25-year-old man on Rooty Hill Road North in Oakhurst and he was charged with murder.
Police will allege the older man and the 25-year-old were involved in a physical altercation before the stabbing.
The 24-year-old man allegedly assisted the latter in fleeing the scene in a vehicle.
Both men were refused bail to appear before Parramatta Bail Court on Sunday.
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