James "Tjay" Carter, 38, of Boston, is accused of stabbing the man shortly before 9:45 p.m. on Monday near the area of 800 Boylston St.
Officers said the suspect was also on a bicycle and was seen fleeing the area toward Ring Road. Police later spotted and stopped the suspect.
Police said Carter was found with an industrial style pocket knife and was arrested shortly after.
The victim suffered a non-life threatening stab wound. He was treated on the scene but refused further medical attention.