Police were on the scene within minutes after reports of a teenager waving a knife around in the Oak Tree area.
The incident happened on Wednesday 9 August at around 10.20pm outside a Tesco store in Jubilee Way South.
The six-inch knife was located under a vehicle.
A 19-year-old man was arrested for possession of a bladed article in a public place and possession of cannabis.
Neighbourhood Inspector Kylie Davies said: “This is a timely reminder of the consequences of carrying knives in Mansfield. You will find yourself in our custody.
“Like this incident shows we were on the scene within minutes and not only located the offender but also recovered the knife which had been discarded under a car.
“We would also like to thank members of the public for calling this incident in and hopefully shows that these reports get immediate attention.
“Seven out of 10 knife injuries seen in A&E are caused by the victim’s own knife and therefore carrying a knife puts you in more danger than if you make the right decision and not carry one.”