Just after 3am on Thursday February 8, a 21-year-old man was walking with a group of friends along Steel Street near King Street, when he became involved in an argument with two men.

Shortly afterwards, one of the two men assaulted the 21-year-old, punching him several times in the head.

He fell to the ground before the men left the scene and were last seen heading south on Steel Street.

Emergency services were contacted and the man was taken by ambulance to John Hunter Hospital in a critical condition.

He has since stabilised but has been left with serious injury including hearing loss. 

Officers from Newcastle City Local Area Command attended and established a crime scene. CCTV footage from the surrounding area was obtained for examination by investigators.

Following inquiries, about 3.40pm on Tuesday police executed a search warrant at a home on South Street, Adamstown.

A 21-year-old man was arrested at the location.

He was taken to Newcastle Police Station where he was charged with assault occasioning grievous bodily harm.

He was conditionally bailed to appear at Newcastle Local Court on Thursday March 8, 2018.

Inquiries into the incident continue.

Police are urging anyone with information in relation to this incident to call Crime Stoppers on 1800 333 000 or use the Crime Stoppers online reporting page: https://nsw.crimestoppers.com.au/