The 44-year-old man was rushed to hospital after being attacked by a knife on Saturday night in the popular holiday destination. It was not imediately clear if the man was on vacation or a resident of the area. Sources believe the attack took place around 7.45pm local time on Saturday.
One source claimed the victim was stabbed in the left side, chin and arm.
A police source said the innestigation was “progressing well”.
He was not able to say why the attack happened or why the victim was targeted.
Benidorm receives almost four million tourists a year.
Last December a convicted robber went on a two-mile wrecking spree in Benidorm after he was released from a UK jail.
Josh Wannan, from leeds, was accused of causing tens of thousands of pounds after a joyride in a stolen coach.
He was warned he faces a jail sentence of to seven years if convicted over the joyride, plus a massive compensation bill.
More than 30 cars, motorbikes and mopeds were damaged.
Additonal reporting by Gerard Couzens