Two people have been stabbed in front of young children during a terrifying home invasion in Sydney's west.

Emergency Services were called to a home on McCredie Rd in Guildford West about 11pm on Saturday.

NSW Police said two men wearing face coverings forced entry through the front door of the home before allegedly assaulting and stabbing a 41-year-old man and a 37-year-old woman who lived at the home multiple times.

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Three children aged under 10 were also in the home at the time and were not injured.

Police said the two men fled the scene when neighbours intervened.

NSW Ambulance paramedics treated the man and woman, where they were taken to Westmead Hospital in a stable condition.

The two men were seen entering a white sedan parked out the front of the home that was driven by a third person south along Lomond St.

"The incident is believed to be a case of mistaken identity," police said.

"As inquiries continue, police are urging anyone with information about the matter, or was in the area at the time with any available dashcam or mobile phone footage, to contact Granville Police Station or Crime Stoppers on 1800 333 000."