Heartbroken friends have named the 22-year-old as Jarvin Blake and have paid tribute to the young dad online.
He was knifed in an incident in Brackley Street, at its junction with Catherine Street, Burngreave, at 3.20pm yesterday.
South Yorkshire Police said he was rushed to hospital but could not be saved.
A 23-year-old man also stabbed in the same incident was taken to hospital with serious injuries.
Last night his condition was described as serious but stable.
Posting a tribute on Facebook, Alicia Smith said: "Just in complete shock.
"I'm so heartbroken for every one that's had the pleasure of ever meeting you. What a top lad you was. And absolutely devastated for your babies.
"RIP beautiful what a devastating loss, will never forget you or how much you always supported me when we was younger."
Tom Scott added:"Rip Jarvin Blake - another young life taken to soon. Fly safe brother."
Emma Brittle said Jarvin would be 'loved and missed by loads' would never be forgotten.
Aiden Foster described Jarvin as a good friend and added: "My heart goes out to his family."
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.