Officers responded to a report of an attempted robbery in the 8300 block of Arroyo Circle at 9:20 a.m.
The suspect had fled on foot but officers located 25-year-old Darrell Gentry, who matched the description given by the victim. Police said Gentry was carrying the kitchen knife.
Police are looking for a second man who was also involved in the crime and is still at large. He is described only as a Hispanic or black man between the ages of 28 and 30.
Gentry was booked into Santa Clara County Jail for attempted robbery, possession of a dangerous weapon, and a probation violation.