Security guards protecting the Jerusalem light rail train apprehended a suspicious man standing near the train station on Herzl Boulevard.
The guards later discovered the man was carrying a concealed knife.
Police were called to the scene and have taken the man into custody.
Initial reports indicate the 17-year old suspect entered Israel illegally.
On Tuesday Ali Abu Hassan, a 21-year old Palestinian Authority resident, was indicted for a July 17th plot to bomb the Jerusalem light rail.
The attack was narrowly averted when a security guard approached Hassan, who was about to board the train, and discovered a large explosive device concealed in his backpack.