Police say Lance Ryan was taken into custody by the FBI in Baltimore, Maryland on Friday morning.
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He will return to Philadelphia to face charges for the incident, Deputy Commissioner Frank Vanore tweeted.
The attack happened around 8:30 p.m. on Nov. 7 at Morris Market at the corner of 15th and Morris streets.
Surveillance video released by police showed the victims, a 54-year-old woman and a 21-year-old man, walking out of the store. The attacker puts on a mask and then follows them.
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He repeatedly punches one victim and knocks the second unconscious.
Police say he stole valuables from both victims and took off.
The above video is from a previous report.