The victims, aged in their 20s, were rushed to hospital after after the incident in Empire Way.
Police were called to the scene at Grand Felda House accommodation block at about 8.20pm.
A statement from Brent MPS said: “Officers are in Empire Way after two men in their 20s were stabbed this evening.
“Both victims in hospital in life threatening condition.”
No arrests have been made.
The area has been cordoned off while a police investigation is carried out.
Police later confirmed the victims injuries were no longer life-threatening.
Officers have asked anyone with information to call 101 and quote CAD7391/01APRIL, or Crimestoppers anonymously on 0800 555 111.