It happened around 5:23 p.m. in the 200 block of South 24th Street.
Police say a 26-year-old woman was walking northbound on 24th Street when a man dragged her towards a white SUV while at knifepoint.
That's when the two good Samaritans jumped into action and held the suspect until police arrived.
Police say the woman suffered a small cut to the hand. She is being evaluated at an area hospital.
Police arrested the suspect. He has not been identified at this time.