Arbitrary style transfer (AST), a popular AI-powered photo editing function, aims to strike an optimal balance between content and style injection from two images in order to generate a novel high-fidelity stylised image. Recently, diffusion models have been applied to AST due to their high generation quality as well as flexibility to embed conditions. However, these models are still not satisfactory and may exhibit inferior performance compared to non-diffusion based methods. This is due to the diffusion process not being purposely designed for AST, leading to suboptimal solutions to trade-off content preservation and style embedding. In this paper, we propose ACID-Style, a novel adaptive condition injection diffusion-based AST framework for improved content/style feature injection to address this research challenge. Using two lightweight adapters, a content and a style injection module, and an adaptive injection mechanism, our approach is able to fully exploit a pre-trained stable diffusion model for AST-specific adaptation and our diffusion model thus learns the most effective timing for content and style injection in the diffusion sampling process. Comprehensive evaluations demonstrate that our method achieves superior style transfer performance, both quantitatively and qualitatively, compared to other state-of-the-art style transfer methods.