The victim was taken to hospital for treatment, where she remains, after being treated by paramedics at around 5pm on Thursday (Jun 23) on Byland Road in Harrogate.
North Yorkshire Police said she had suffered "substantial injuries believed to have been inflicted by a blade".
A large police presence was spotted in the area on Thursday evening, as investigations began and officers searched for clues.
The force has since confirmed a woman in her 40s has been arrested on suspicion of attempted murder and a man, also in his 40s, has been arrested on suspicion of conspiracy to commit murder. They both remain in police custody.
Senior Investigating Officer Detective Chief Inspector Jonathan Sygrove, said: “We have arrested two people in connection with this offence and we now believe the incident was isolated with no further risk to the wider public.
"We hope this goes some way to reassure the residents of Byland Road and the surrounding areas.
“We would like to thank those who have assisted us with our enquiries so far but would continue to urge anyone with information to contact us as a matter of urgency.”
Anyone with information is asked to contact North Yorkshire Police on 101 quoting incident number 12220108308. Alternatively, leave information anonymously by contacting Crimestoppers on 0800 555 111.