A 19-year-old man has been charged with attempted murder in connection with a serious incident in Golf Crescent in Tayport around 4.50pm on Sunday.
He will appear at Cupar Sheriff Court on Tuesday.
A Police Scotland spokesman said: ”The 23-year-old victim was taken to hospital for treatment following the assault, and he is in a stable condition.”
Police initially refused to confirm or deny rumours sweeping Tayport on Sunday night that a man had been stabbed despite eyewitness accounts.
Eyewitnesses said there was a prominent police presence in the village with road blocks at the foot of Elizabeth Street and the junction of Shanwell Road and Golf Road and Golf Crescent.
There was also police tape behind the golf club’s car park with a uniformed police presence in the area.
Police confirmed on Monday morning that a man had been arrested and charged.
They originally said this was a charge of serious assault but later confirmed it was a charge of attempted murder.