Jarvin Blake, aged 22, was knifed in an altercation in Brackley Street, at its junction with Catherine Street, Burngreave, at 3.20pm yesterday.
He was rushed to hospital but could not be saved.
CRIME: Man arrested over shooting in SheffieldA 23-year-old man injured in the same incident was also taken to hospital with knife wounds, where he remained last night in a serious but stable condition.
Extra police patrols have been ordered in the wake of the stabbing in a bid to reassure local residents of their safety.
Yesterday's stabbing is the latest in a series of knife attacks in Burngreave and across the city over recent months, with knife crime on the increase in Sheffield.
Earlier this month South Yorkshire Police took part in Operation Sceptre, a national initiative aimed at reducing the number of blades on the streets, which led to the recovery of 106 knives locally.
A South Yorkshire Police spokeswoman said: "Just before 3.20pm yesterday, police were called by ambulance staff to reports of a stabbing in Brackley Street at its junction with Catherine Street, Burngreave, Sheffield.
"A 22-year-old man was taken to hospital with stab wounds to his upper body but pronounced dead shortly after.
"A 23-year-old man who sustained injuries arising out of the same incident is in hospital, where his condition is described as serious but stable.
"Detectives are carrying out enquiries and an investigation is underway to ascertain the exact circumstances surrounding the incident.
"There are also increased police patrols in the area, to reassure the public"
Anyone with information should call South Yorkshire Police on 101 or Crimestoppers on 0800 555111, quoting incident number 593 of March 8.