A teenager is in a critical but stable condition in hospital after he was stabbed in the chest with a knife during an alleged road rage incident on Monday.

Police said two men, aged 18 and 23, became involved in a verbal argument on Forest Lake Boulevard in Forest Lake, south-west of Brisbane, just before 3.30pm.

It will be alleged the argument escalated, with the older man pulling a knife and stabbing the teenager once in the chest.

The victim was rushed to the Princess Alexandra Hospital and he remained in a critical but stable condition on Tuesday morning.

Police arrested the 23-year-old in Forest Lake at 7.15pm on Monday.

He was charged with attempted murder and is due to appear at Richlands Magistrates Court on Tuesday.

Detectives have appealed for anyone with dashcam vision who was on Forest Lake Boulevard near High Street close to the time of the offence to contact Acacia Ridge police.