The brutal attack happened at a house on P and 12th Streets at about 11:20 pm.
Investigators say the victim was stabbed multiple times.
Paramedics rushed her to the hospital for treatment. She is expected to survive.
Officers say they suspected 29-year-old Brandon Olson of the attack.
They spent several hours looking for Olson. He was taken into custody near Sanger and North Avenues without incident early Tuesday morning.
Olson has been booked into the Fresno County jail for attempted murder and violating parole.