The deceased was identified as Suman Sheikh, 26, a student of Rupsha Degree College and son of Afjal Sheikh of Naihati.
Molla Jakir Hossain, officer-in-charge of Rupsha Police Station, said the motive for the crime was previous enmity.
One Mahmdudullah, 24, son of Abul Bashar of the area, stabbed Suman at Naihati intersection around 8 pm and fled the scene, the OC said quoting locals.
Suman was first taken to Rupsha Upazila Health Complex where doctors referred him to Khulna Medical College Hospital. However, doctors at the KMCH found him dead.
According to locals, Suman slapped Mahmudullah a few days back as he smoked weed. Since then, they had been at odds.
Police have arrested a man for his suspected involvement in the incident, added the OC.