A man has been rushed to hospital after being found with a knife sticking out of his back on the Gold Coast.

A crime scene has been declared on McMillan Street in Labrador after the 28-year-old was found by passers-by just after 6am.

Police said he was found on the street with "a large knife in his right shoulder blade".

He was taken to the Gold Coast University Hospital by paramedics in a serious but stable condition.

Investigations are ongoing.