Police were called on Sunday after a man was located with stab wounds on Little Malop Street around 5.30am on Sunday.

The 20-year-old Corio man was rushed to hospital where he later died.

Victoria Police said they believed the man was injured during a nearby altercation.

The exact circumstances of the incident were under investigation, but it was understood that two other men involved in the altercation showed up at hospital and were being treated for non-life-threatening injuries.

One photo from the crime scene showed blood splattered on a garden wall outside a state government building on Little Malop Street, while another photo showed blood smeared on a store window. a store about 250 yards away on Downes Lane.

Anyone who witnessed the incident or has information that could help police is asked to contact Crime Stoppers on 1800 333 000 or submit a confidential report online at www.crimestoppersvic.com.au