Ethan Odom, 37, is now facing kidnapping charges.
The incident was reported in the 24200 block of Arch Street at 7 p.m. The suspect ran down the street holding onto the girl. The girl's family chased the suspect down and regained custody, deputies said.
Responding Santa Clarita Valley Sheriff's Station deputies set up a containment area and took Odom into custody.
The girl was startled but unharmed, deputies said.
Investigators say there is no relation between the suspect and the victim or her family.
Anyone with further information was urged to contact the Santa Clarita Valley Sheriff's Station as soon as possible at (661) 255-1121.