A 34-year-old man was arrested near the scene of the incident on Monday and has since been charged in relation to the alleged stabbing of Levi Johnson in Mansfield.
He is expected to appear in Brisbane Magistrates Court on Thursday.
A second 34-year-old man was taken into custody on Wednesday and is being questioned by police.
Detective Superintendent Andrew Massingham said two other men, Thomas Myler, 35, and Kyle Martin, 24, are on the run in the eastern suburbs and may be armed and dangerous.
Police believe the pair are hiding in Capalaba, Birkdale or Ransom and are urging the duo to hand themselves in immediately.
"It is in the interest of public safety that these two persons are brought into custody as soon as possible," Det Supt Massingham said.
"There is the potential for both of them to be armed and also dangerous, that is our concern, and that is why we are seeking assistance from the public."
Specialist police are combing the suburbs for the pair, who may have changed their appearances.
Det Supt Massingham urged people to contact police if they have any information about the men but warned the public not to approach them.
"If any person feels that they are in any immediate danger from these persons, call triple zero," he said.
Mr Johnson died from his wounds after he was stabbed outside a gym in Mansfield on Monday afternoon.
Two cars boxed in his vehicle in the gym's car park before four men got out and started smashing his windows.
Mr Johnson ran away but two men caught up with him nearby, and he was stabbed multiple times.
"This offence is horrifically violent and the way in which it was conducted is unthinkable," Det Supt Massingham said.
Mr Johnson's alleged attackers claim links with a group or gang called the 13 Kings, but police said it's not a well-known organisation.
"The credibility of those claims is still being investigated," Det Supt Massingham said.
Task force Maxima, a specialist police unit focused on outlaw bikie gangs, is taking part in the investigation.
But Det Supt Massingham said media reports about the attack being part of a "bikie war" were unfounded and based on supposition.
"It would be premature to try and make links to any outlaw motorcycle gangs," he said.
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