The 37-year-old woman will front Maitland Local Court after being charged with wound person with intent to cause grievous bodily harm.

Emergency crews were called to Segenhoe Street about 10am where they found a 39-year-old woman with a stab wound to her abdomen and a laceration to her head.

She was treated at the scene by NSW Ambulance paramedics before the Westpac Rescue Helicopter - with a critical care doctor and critical care paramedic on board - air-lifted her to John Hunter Hospital in a serious but stable condition.

Police will allege in court the two women are known to each other.

EARLIER: A woman has been arrested and is assisting police with their inquiries after a woman was stabbed in the chest at Woodberry on Monday morning.

Emergency crews were called to Segenhoe Street about 10am where they found a 39-year-old woman with a stab wound to her abdomen and a laceration to her head.

She was treated at the scene by NSW Ambulance paramedics before the Westpac Rescue Helicopter - with a critical care doctor and critical care paramedic on board - air-lifted her to John Hunter Hospital in a serious but stable condition.

Police have arrested a 37-year-old woman who was at the scene - and who investigators allege is known to the injured woman.

The 37-year-old has been taken to Raymond Terrace police station, where she is assisting police with their inquiries.

A crime scene has been set up at Segenhoe Street.

NSW Ambulance Inspector Joel De Zuna said the 39-year-old woman was "incredibly lucky".

"Paramedics did a fantastic job in extricating the woman from the scene and taking her to the emergency medical team that had arrived on the helicopter," he said.

"The critical care doctor and paramedics worked to control the bleeding and stabilise the woman for transport to hospital.

"Stab wounds cause nasty injuries that can be challenging to treat due to the potential penetration of organs and blood vessels. This patient was incredibly lucky."

IN THE NEWS

Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content: