It is understood an altercation took place between the two siblings following a disagreement over a greyhound racing dog on Tuesday evening.

Police claim a fight broke out between the brothers in the backyard of the home they share with their parents in Lacey Street, Kogarah Bay.

Patrick Whelan, 46, allegedly produced a knife and stabbed his brother Matthew, 45, in the chest before fleeing in a Holden Commodore.

The victim was taken to St George hospital about 9.35pm on Tuesday with a stab wound to his chest. He remains in a serious but stable condition.

The accused turned himself in at Kogarah police station about 4.20pm on Wednesday, where he was arrested and subsequently charged with intent to cause grevious bodily harm.

He has been refused bail and is due to appear at Sutherland Local Court on Thursday.