A crime scene has been set up in Canley Heights, in Sydney's southwest, after the men self-presented to two different hospitals nearby.
Police were called to Liverpool Hospital about 8.30pm on Tuesday after reports two men, believed to be in their 20s, had presented with multiple wounds.
One man, who is yet to be formally identified, was treated but died a short time later.
The other man remains in hospital in a stable condition, police said.
About 10 minutes after police received the first call, two other men presented to Fairfield Hospital in a critical condition.
Then, at 9.50pm, a fifth man, believed to be aged 19, appeared at Liverpool Hospital in a stable condition.Â
He is also receiving treatment for injuries, police said.
Police have established a crime scene at a home in Canley Heights and are investigating with assistance from the homicide squad.
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