A manhunt is underway in Brisbane's south-west after a 23-year-old man was stabbed to death in an industrial park early Thursday.

Police were called to a vacant lot in Cobalt Street, Carole Park about 3am where they found the man suffering multiple stab wounds.

Attempts to revive him were unsuccessful and he died at the scene.

A woman believed to be known to the victim called police as the offender fled.