Police were called to a home in Heywood Road, on the Savick estate in Ashton, on Wednesday (May 22) after it was reported that a number of people had been stabbed.
Seven police cars descended on the street, along with an ambulance and a rapid response vehicle with a senior clinician on-board.
Officers entered the home where they arrested two men on suspicion of assault.
A 39-year-old man from Preston has been arrested on suspicion of GBH (grievous bodily harm).
A 42-year-old man, also from Preston, has been arrested on suspicion of assault (Actual Bodily Harm), Section 18 assault and criminal damage.
Two people, a man and a woman, were treated for cuts at the scene. They had allegedly been slashed with a knife, but did not require hospital treatment.
Lancashire Police has not confirmed whether a bladed weapon was seized.
A police spokesman said: "We were called at 4.43pm on Wednesday, May 22 to reports of an assault at an address on Heywood Road in Ashton on Ribble.
"It was reported that four people had been assaulted.
"A man and a woman suffered minor cuts. Two other people were uninjured.
"A 39-year-old man from Preston has been arrested on suspicion of assault (GBH) and a 42-year-old man from Preston has been arrested on suspicion of assault (ABH), Section 18 assault and criminal damage.
"They are currently in police custody.
"It is believed that all parties are known to each other and there is no wider threat."
Anyone with information can contact us on 101 quoting log number 988 of May 22.