A woman has stabbed a man in his sleep in an alleged Islamic State-inspired terrorist attack in Melbourne’s north.

The 24-year-old Bangladeshi woman allegedly stabbed the 56-year-old man in the neck at a home in Mill Park about 4.30pm on Friday.

She was arrested at the scene and charged with engaging in a terrorist act.

“We will allege this was a standalone, Islamic State-inspired attack, designed to cause harm to our community,” Australian Federal Police’s acting Deputy Commissioner of National Security Ian McCartney said in a statement on Saturday.

“We deplore any attempt to intimidate our community.”

The man will undergo surgery at Royal Melbourne Hospital on Saturday for non- life threatening injuries.

Camera Icon AFP acting Deputy Commissioner, National Security, Ian McCartney emphasised there were no subsequent threats to the community. Credit: AAP Image, James Ross.

It’s alleged the woman is a Bangladeshi national who travelled to Melbourne on a student visa on February 1.

She was renting a room at the victim’s Callistemon Rise home while she was studying, police say.

The man’s young child was also at the home at the time of the stabbing but was unharmed.

Acting AFP Deputy Commissioner Ross Guenther said police weren’t looking for anyone else in relation to the attack.

“This is an isolated incident and the community can be assured that Victoria Police is doing everything we can to keep the community safe,” he said in a statement.

The accused woman is due to face Melbourne Magistrates Court on Saturday.

- AAP