The 23-year-old man, who was enrolled at Charles Darwin University, was left in a critical condition after the early morning attack on Wednesday.
Northern Territory Police said a man entered the home at Millner, in Darwin's north, about 4.25am and assaulted the resident before fleeing the scene.
The alleged attacker, a 29-year-old man, was detained in a vehicle a short time later while the injured student was taken to Royal Darwin Hospital.
Police said the 23-year-old died on Thursday as a result of the injuries he sustained in the attack and major crime detectives were investigating the death as a homicide.
The 29-year-old man has not been charged over the incident.
Northern Territory acting Police Commissioner Michael Murphy said it was a "serious, senseless, heartbreaking act of violence" and he offered his heartfelt condolences to the Bangladeshi community, including the student's family who were in Darwin.
"It's just not the Darwin that we know and I can reassure the Northern Territory community that the police are doing everything we can to ensure that these senseless acts of violence cease," he told Sky News on Friday.
The university described the assault as a senseless attack that had devastated the community, with students and staff holding rallies in support of the injured student.
Police have urged any potential witnesses to come forward, especially if they have any CCTV footage of suspicious activity in the area.
15°C