A man has been charged with murder after allegedly stabbing an elderly man to death in Guildford in southwest Sydney.

About 3am (AEDT) on December 22, police were called to a home in Swift Street after reports that a man had been stabbed.

Two wounded men were found at the home, with 77-year-old Cedric Newton dying at the scene.

The second man, aged 59, was taken to Westmead Hospital suffering self-inflicted stab wounds.

On Wednesday police charged the man with murder.

He remains in Westmead hospital awaiting a bedside court hearing on Thursday.