TWO 20-year-old female students are in hospital, one critical the other in a stable condition, after a stabbing incident at Australian National University campus.

Police and ambulances were called to the campus at about 2.45 on Monday afternoon following reports of the stabbings.

A 34 year-old male was also assaulted and received minor injuries, but did not go to hospital.

A 24-year-old male, who is not believed to be a student of the university, is in police custody. He has not been charged at this time. No other people are being sought by police.

Police say no specific motive for the incident has been identified.

The university posted on social media that the situation was under control.

A spokesman for ANU said students were encouraged to stay away from Fellows Oval and Chifley Meadow as they were active scenes of investigation.

Support services have been made available.