It follows the stabbing of a man in his 50s in the Derrytrasna area on Monday evening.
Police said the 69-year-old man has been charged with a number of offences including attempted murder and wounding with intent.
He is expected to appear at Craigavon Magistrates Court in the morning, Wednesday 20 December.
The PSNI said: “As is usual procedure the charges will be reviewed by the PPS.”
Apprentice Boys of Derry: new era of respect makes for enjoyable ‘Relief’ parade
Thousands expected to take part in 'Derry Day' this weekend
Feile organisers asked if they have warned Wolfe Tones about leading young people in pro-IRA chants
Brexit: There’s a fundamental con trick being played over Liz Truss’ Northern Ireland Protocol Bill says Lord Empey
DUP MP calls for probe into Sinn Fein MP’s Twitter post
The small hamlet of Derrytrasna remains in shock after the serious altercation on Monday night.
A man in his 50s was rushed to hospital with multiple stab wounds to various areas of his body last night at around 7.40pm.
The attack happened in Derrytrasna Lane - a quiet area of the small Co Armagh hamlet which leads to the shores of Lough Neagh.
It is understood the victim suffered wounds to his neck, face and abdomen, but his injuries are not thought to be life threatening at this time, according to police.
SDLP Cllr Declan McAlinden who knows the family described him as a quiet and highly regarded man from a highly respected family in the close-knit Derrytrasna area.
“Nothing like this happens here. This man is a lovely person and I hope he makes a full recovery. My thoughts and prayers are with his family at this very stressful time just before Christmas,” said Cllr McAlinden.
“Derrytrasna is a very quiet area and something like this is extremely unusual,” he added.
A PSNI spokesperson said: “Detectives in Lurgan are appealing for witnesses following a serious assault in the Derrytrasna Lane area of Craigavon.”
Detective Inspector Harvey said: “Police responded to a report of an altercation at this address at approximately 7:40pm and found a man, aged in his 50s, had been stabbed several times.
“The victim sustained wounds to his neck, face and abdomen during the attack, which we believed took place outside the address.
“The man was taken to hospital for injuries which are not thought to be life-threatening at this time.”
The Detective Inspector continued: “A 69-year-old man was subsequently arrested on suspicion of attempted murder, possession of an offensive weapon and wounding with intent to do grievous bodily harm.
“We are appealing to anyone who witnessed anything in this area last night around 7:30pm to phone police on the non-emergency number 101, quoting reference number 1263 of 18/12/17.
“Alternatively, information can also be provided to the independent charity Crimestoppers on 0800 555 111 which is 100% anonymous and gives people the power to speak up and stop crime.”
Upper Bann MLA Carla Lockhart also condemned the stabbing which she described as ‘alarming’ and urged anyone with information to contact the PSNI.