The 38-year-old man was taken to Blackburn Royal Hospital with a punctured lung, fractured skull and two broken legs after the late night assault by three men in Colne Road on Monday evening.
The armed attack happened at around 8-45 p.m. and a section of the road had to be closed while police conducted their investigation.
The victim remains in hospital and is described as being in a stable but ill condition.
Police have since arrested a 51-year-old man from Burnley and a 23-year-old man from Nelson on suspicion of assault and the two men are currently in custody.
Pendle CID are now urging witnesses to come forward with any information.
Brierfield councillor Coun. Naeem Ashraf has called for calm within the community and urged people to continue with their daily business without fear.
He said: “This is an isolated incident and I urge for calm in the whole of the community. Brierfield is a safe place and since the attack there has been a high police presence in the town for the public’s added confidence.
“I don’t know much about the attack but I want to reassure the public that they can carry on as normal as I know the police are dealing with their inquiries and are on top of it.”
If anyone has any information about the incident please contact police on 472144 or Crimestoppers anonymously on 0800 555 111.