A 63-year-old man is dead after being stabbed during an altercation at a home in Queensland.

Police were called to a unit block in Redbank, Ipswich, about 10.25pm on Saturday.

They found a man, who later died at the scene, with several wounds.

A 28-year-old Boronia Heights man has now been charged with one count each of murder, threatening violence and drug possession.

Police allege three people were inside the unit when an altercation occurred at the 63-year-old man was stabbed by the 28-year-old.

He will appear in Ipswich Magistrates Court on Monday.