The two men, both aged in their thirties and local to the area, were found in Darcy Road at 11am on Sunday, December 27 with injuries believed to be caused by a knife.
One of the victims was taken to Leeds General Infirmary with what were thought to be serious injuries.
He has since been discharged.
The other man sustained minor injuries.
A police search operation was launched with support from the National Police Air Service helicopter.
A 19-year-old man was arrested on suspicion of Section 18 wounding with intent shortly after 2.10pm in Far Moss.
The man, who is local to Selby, remains in police custody.
Officers are not looking for anyone else in connection with the incident.
Anyone who witnessed the incident, or who has any information is asked to contact North Yorkshire Police.
Dial 101, press 1 and pass information onto the Force Control Room, quoting reference number 12200245718.