Officers found the two women at a residential address on Windmill Lane, both with stab wounds.
The incident happened around 3.35am on Sunday morning, police confirmed.
Sadly, one of the women, in his fifties, died after the stabbing. Meanwhile, the second woman, in her thirties, was taken to hospital.
Her injuries are not life-threatening.
Police are looking for the culprit, who is believed to be a man known to both women.
But no other details about the man have been released so far.
Chief Inspector Lisa Parker, of the Met’s North East BCU, said her military’s “thoughts and sympathies” were with the women and their loved ones.
She added: “I know people in Newham and in particular those in the Stratford area will be shocked and concerned by this tragic incident. I share their concern and can assure them that specialist detectives are working hard to identify those responsible. and arrest…
“Local officers will be patrolling the area and I urge anyone with information or concerns to speak to those officers. They are there to protect and support you.”
Anyone with information to assist with the investigation or witnesses is requested to call 101, reference 1224/23 Oct.
Contact Crimestoppers to remain anonymous.