Police allege a fight broke out between a 27-year-old man and a group of men on Cavill Avenue near Orchid Avenue in Surfers Paradise around 9pm.
A man from Logan was stabbed in the torso.
He was taken to hospital, but died a short time later.
Police arrested two men, a 21-year-old from Tinana, near Maryborough, and an 18-year-old from Pimpama.
They are expected to face the Southport Magistrates Court later today charged with murder and assault.
Detective Superintendent Brendan Smith said it was a tragic incident.
“Prior to the actual incident there was a bit of an altercation between the victim and the offenders,” he said.
“Inquiries at this point would indicate there’s been an ongoing issue between those two groups over the last few days.”
Police are reviewing CCTV vision of Cavill Avenue, and have appealed for witnesses who may have seen or filmed the fatal attack to come forward.
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