The stabbing happened around 2:40 pm in the area of K Street and O'Neal Avenue.
Tulare police say a woman in her 50s was walking on the sidewalk when she was stabbed.
The woman was taken to a local hospital with non-life-threatening injuries.
Officials say the suspect, a man in his late 60s, was arrested for the stabbing.
Police are still working to figure out if the suspect knew the victim or if she was randomly targeted.
Investigators add that the suspect is a parolee and was intoxicated during Tuesday's attack.
Stay with Action News for the latest updates on this developing story.