Police are still hunting for a man who allegedly fled the scene of a fatal stabbing at a Sydney construction site.

A 76-year-old man died and a 33-year-old man was taken to hospital in a critical condition after the stabbing at St Peters on Wednesday afternoon.

It was reported the two victims were property developer Albert Metledge and his son Antony.

Police said they were searching for a 49-year-old construction worker who fled the scene and is believed to have hitched a ride to Rockdale.

Inspector Chad Deegenaars said the three men knew each other and were linked to the construction site.

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“Our investigators are finding out what the disagreement was. What the motive was, we don’t know,” Inspector Deegenaars told reporters on Wednesday.

“It doesn’t appear to be a random attack.”

The man police are looking for was described as Caucasian, 180 centimetres tall with a shaved head. He was wearing a blue t-shirt, blue cargo-type pants and work boots.

Police have warned the public not to approach him if they see him but to instead call triple zero.

AAP