The discovery was made Friday at the Royal Gardens near 68th and Oxford Avenue.
SPCA officials removed the body of the slaughtered animal and investigators also found skeletal remains 25 yards away.
The SPCA says that apart from the wounds, the animal seemed to be healthy. Authorities are not sure if the dog was a victim of a fighting ring, a ritual or some other cause.
A necropsy will be conducted to determine the exact cause of death.
This wasn't the first time something like this has happened.
Neighbors say a dog was dumped in the area last fall.