Two men who allegedly attempted to steal a dog from a lost dog's home have ended up with serious stab wounds after an alleged altercation with the caretaker in north-west Tasmania.

Tasmania Police alleged three men broke into the Burnie Dog's Home, at Wivenhoe, late on Wednesday night.

They claimed the trio "attempted to remove a dog from the premises when they were interrupted by a caretaker".

The noise of dogs barking woke the caretaker, 21, said Detective Inspector Kim Steven.

He alleged two of the intruders, both aged 24, received serious stab wounds to the chest from a flick-knife.

One was transferred to the Royal Hobart Hospital while the other remains in the North West Regional Hospital.

Detective Inspector Steven alleged the caretaker suffered a stab wound to the leg and the third intruder was unharmed.

The ABC understands the dognappers were trying to retrieve a malamute owned by one of the three men.

No charges have yet been laid.

Police said they were continuing their investigations and would "speak to the two seriously injured men in the coming days once they are able to do so".

They urged anyone with information about the incident to call 131444, or could anonymously contact Crime Stoppers on 1800 333 000.