Around 1:17 a.m. the 37-year-old cab driver pulled his taxi over on the 900 block of South Front Street.
Two men inside the taxi got out. One of the men stood next to the driver's side window, appearing to get money out of his wallet.
Police say the second man approached the driver's side with a knife and began to stab the victim.
According to police, the first suspect then began to stab the victim.
The cabbie briefly fought back but was stabbed once more in the head.
The suspects allegedly took $205 and fled the scene.
The cab driver was able to make it to Front and South streets where he flagged down police officers.
Police took him to Jefferson Hospital in stable condition.
21-year-old Luis Moreno from the 1100 Block of S. 9th Street was arrested and charged with Aggravated Assault, Robbery and related charges.
22-year-old Alejandro Gonzalez was arrested on Tuesday at 1:15 a.m. at his homein the 1100 Block of S. 9th Street. Gonzalez is charged with Aggravated Assault, Robbery and related charges.