The incident happened on Friday around 12:30pm at Ayokoa in the Adanse North District of Ashanti Region.
Emmanuel Adi, a senior high school (SHS) graduate, also butchered himself with the same sharp machete after killing a dog belonging to one of the victims with the same object.
Many believe that the suspect was under the influence of some illegal substance which got him intoxicated.
The victims of the heinous act have been identified as Kojo Ampong, 85; Evans Amponsem, 23; Akwasi Nyansah aka Mfante, 76, and John Atta, 45.
They are currently at the Komfo Anokye Teaching Hospital (KATH) in Kumasi for treatment.
The suspect, Adi who also suffered serious head injuries, is also receiving treatment at the New Edubiase Government Hospital under police watch.
The incident was said to have occurred after residents had returned home from communal labour, the Daily Guide newspaper reports.
The suspect attacked John Atta’s dog first at his home, before butchering John. He subsequently butchered three more people.
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He started behaving strangely and even went ahead to hit his head with the machete, resulting in serious injuries.
But residents in the area managed to overpower him and he was sent to the police for investigations to commence into the incident.