The arrest of Carlos Figueroa-Fagot,33, was announced at a police news conference on Thursday afternoon.
Figueroa-Fagot turned himself in to police around midnight after being persuaded by his family, investigators said.
Police Capt. John Darby said that, due to the publicity surrounding the case, Figueroa-Fagot's family told investigators that he couldn't "walk, talk or breathe out there on the streets."
"This defendant knew he couldn't keep walking the streets and that people were going to come get him," said District Attorney Seth Williams.
He was eventually placed into custody around 9:30 a.m. Thursday.
Police told Action News that the young victim in this case has positively identified her attacker. Figueroa-Fagot did not know the girl, police said.
"Research continues into any other cases that may be outstanding now that we know a little bit more about our offender," said Capt. Darby.
Investigators say Figueroa-Fagot has previous arrests in Puerto Rico for sexual offenses. A year ago, he was arrested in Philadelphia for domestic violence.
Figueroa-Fagot has been charged with attempted kidnapping, unlawful restraint, indecent assault, aggravated indecent assault, corrupting the morals of a minor, interference with the custody of a child, simple assault, false imprisonment and unlawful contact with a minor.
His vehicle, which was seen on surveillance tape, has been recovered, police said.
Chilling surveillance video captured the attempted abduction. Hours after that video was released by police, the girl's mother spoke exclusively to Action News.
"Other than really scared, I mean she's mentally stressed out, but physically she's doing ok," the mother said of her daughter's condition. Action News is not identifying the mother to protect her daughter's identity.
That surveillance video of the Tuesday afternoon incident was released at a news conference on Wednesday. Philadelphia Mayor Michael Nutter said he's never seen a video like it.
"Our children must be able to walk around their own neighborhood without lowlifes like this individual coming up and grabbing them, touching them, or doing anything else. It's completely unacceptable, totally outrageous. We need the public's help," Nutter said.
At the same news conference, a $10,000 reward was offered for information leading to the arrest and conviction of the suspect.
The surveillance video shows the 10-year-old girl, with her 2-year-old brother, walking home from a store at 3:48 p.m. Tuesday. The video shows a man, identified by police as Figueroa-Fagot, following them in an older 4-door white vehicle.
The man then parked his vehicle on the corner of Porter and Lee Streets, exited the vehicle, and followed the children onto Lee Street.
Video from another camera actually shows the suspect grabbing the child and attempting to carry her away. But she bit him, and the two year old started screaming, causing him to drop the girl.
He then tried again, but the girl fought as her brother screamed. The man eventually let the child go and ran off. Officials say the suspect then fled in his vehicle east on Porter Street.
The child's mother says one phrase constantly went through her mind when watching the video: "Oh, my God!"
"I just thought, I don't know many kids can do that. I just thought how strong she was and I was just thankful that she was that strong," the mother said.
She's grateful that she and her daughter's father had talked to her often about these types of incidents and showed her online videos of what to do.
"We watched it all the time, it's 'Stranger-Danger', it's a really good video, it teaches them what to do, how to respond to things like that. And she put it all together and it worked. Thank God it worked," the mother said.
Even with this arrest, police say the investigation continues. Anyone with information is asked to call 911 or contact the Special Victims Unit at 215-685-3251.
You can also submit a tip through the police website at www.phillypolice.com.