A man has died after he was allegedly stabbed by a teenager while walking along a highway in the early hours of the morning.

Emergency services were called to the Gwydir Highway near Grafton in NSW's Northern Rivers region after 1am on September 17 following reports of an assault.

NSW Ambulance paramedics treated the man for stab wounds, but he died at the scene near Hay Street in Waterview, police said.

Detectives found and seized a knife, a metal pole and the handle of an axe while examining the crime scene.

The 35-year-old victim was killed in a "targeted" attack, police believe.

Two teenage boys were arrested in connection to the death, with one being charged with domestic violence murder and the other charged with affray.

The arrests came after police searched a home on Bent

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