The senior, identified by local police as Roger Fritz Lang, was playing basketball in a village when he became involved in a dispute with a resident, the Philippine SunStar news website reported on Wednesday, citing a police official.
The assailant brandished a knife and stabbed the Swiss in an incident that occurred over the weekend in a village of Barangay Mabiga, a district of Mabalacat City in the Philippine province of Pampanga, the website said.
The victim was temporarily renting a house in the village, SunStar reported earlier on its website.
He was transported to a hospital for treatment where he died from his injuries.
The alleged attacker, who is reportedly known to police, fled the scene.
The Swiss Federal Department of Foreign Affairs has confirmed the death of a Swiss citizen and said the Swiss embassy in Manila made contact with Philippine authorities over the incident.
Lang was the fourth Swiss citizen killed in the Philippines since October 2014.
The body of a 22-year-old man from Geneva was found on October 7th at Surigao City on the island of Mindanao, according to earlier media reports.
Two days earlier two Swiss tourists aged 67 and 78 were killed at Opol, a seaside resort in the south of the Philippines.