Zachery Davies-Scott, 25, was killed after several people forced their way into a property at Heddon Greta, east of Cessnock in the NSW Hunter region, on the night of December 27, 2022.
Paramedics tried to save Mr Davies-Scott, but he died at the scene.
His pregnant partner witnessed the deadly attack.
A 52-year-old woman also sustained minor injuries attempting to fight off the attackers before the group fled in a white SUV.
Police set up a strike force to investigate the incident and on Tuesday morning detectives arrested a 25-year-old man at Elermore Vale.
He was taken to Waratah Police Station, where he is expected to be charged.
A search warrant is being executed at a home in Elermore Vale.
Two men remain before the courts charged over the incident, while a 25-year-old woman was arrested on January 5 and charged with hindering the investigation.
She is due to appear in court later in January.
In November, 25-year-old Talon Dean was charged with Mr Davies-Scott's murder after his arrest at Boomerang Beach, south of Forster on the NSW mid-north coast.
Days later, 24-year-old Jarryd Nickerson was arrested in Cessnock and also charged with murder
Homicide Squad commander Danny Doherty previously said the victim's family members were "extremely distressed and traumatised" by the killing.
"Zac was only 25 at the time," he said.
"His then-pregnant partner obviously witnessed this but has since given birth.
"You've got a four-year-old, a two-year-old and now a young baby boy who haven't got a father, so it's very emotional for them."
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