A convenience store attendant has been stabbed during a violent armed robbery in Melbourne’s CBD.

The male victim is in a serious but stable condition in hospital after the attack at a store on the corner of Franklin and Elizabeth streets at about 11.30pm last night.

Police say the offender entered the convenience store and allegedly attempted to steal an item.

The attendant confronted the man and  a scuffle broke out.

The man then produced a knife and stabbed the shop attendant, causing serious injuries.

Police arrested a suspect on Elizabeth Street at about 3.30am.

An investigation is ongoing.

Press PLAY below for more details from police