Police were called to reports of an assault in Bank Top, close to the Tesco Express, shortly before 6.45pm on Friday (September 17).
Officers discovered a 16-year-old boy had already been taken to hospital with a stab wound to the chest when they arrived.
His condition was described as "serious but stable" by the force.
A 17-year-old boy from Blackburn and a 16-year-old girl from Darwen were later arrested on suspicion of Section 18 Assault.
Following consultation with the Crown Prosecution Service, a 17-year-old boy from Blackburn has been charged with attempted murder.
He was remanded into custody to appear before Blackburn magistrates yesterday morning (September 20).
The 16-year-old girl has been released on bail pending further enquiries.
Det Insp Kate Kennedy, of East CID said: "As a result of this incident a teenage boy has been left in a serious condition in hospital and my thoughts are with him and his family at this time.
"I would ask anybody who witnessed the incident or has any CCTV or dashcam footage from the area which could assist our enquiries to get in contact with police."
Patrols were stepped up in the area as a precaution following the attack.
Anyone with information has been urged to contact police by calling 101, quoting log number 1341 of September 17.
You can also report any information online by clicking HERE.
Alternatively, independent charity Crimestoppers can be contacted on 0800 555 111 or via crimestoppers-uk.org.
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