Emergency services were called to the incident on Saturday evening, which happened near the Scotmid shop at the junction with South Fort Street, just before 6:05pm.
Police cordoned off part of the busy road and traffic was diverted.
A police spokeswoman said: “Police officers were called to Ferry Road, Edinburgh, regarding a report of a man having been seriously assaulted by two males.
“The victim has been taken to hospital for treatment of his injuries which are not believed to be life-threatening.
“One male is currently in police custody in connection with the incident.
“If any members of the public witnessed this incident or have information, please call 101 quoting incident number 3353 of today, March 23rd, or contact Crimestoppers anonymously on 0800 555 111.”
Earlier this evening, eye-witnesses reported seeing about six police cars, three police vans and an ambulance at the scene of the incident.
A Scotmid worker told the Evening News that a man came into the shop asking for bandages to help the injured person outside.
It is understood officers were carrying out door-to-door inquiries in the area following the assault.
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