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The Dunedin man will appear in court this afternoon charged with wounding with intent to cause grievous bodily harm.
Further serious charges are likely and nobody else is being sought in connection with the incident, police said in a statement.
Police have yet to speak to the 26-year-old victim, who had surgery for stab wounds to her face and neck, and was "extremely lucky to survive" the attack in her Duncan St home.
She remains in Dunedin Hospital.
Police are continuing to examine the scene at the woman's home and expect that to take a further two days.
Polcie said yesterday the woman answered her front door about 8.30am and had a brief chat with a male stranger, who then stabbed her after getting inside the flat she shares with her 3-year-old daughter.
Police said she managed to fend off her assailant and was driven to hospital by a passing motorist along with her daughter, who was unhurt.