A 17-year-old boy suffered life-threatening injuries after an altercation at the Islamic College of Brisbane on Tuesday.
The incident occurred between two teenage boys known to each other at the school in Brisbane's south about 11.45am, police said.
The 17-year-old was taken to Princess Alexandra Hospital for treatment as police searched for the second boy.
Patrols were conducted in the school's Karawatha area on Tuesday afternoon as police appealed for information following the alleged stabbing.
"Upon arrival, officers were initially unable to locate the second boy," a police statement said.
However, following inquiries, officers later located a 16-year-old in a vehicle about 5km away on Gowan Road, Stretton, and arrested him.
"The 16-year-old boy is now assisting police with inquiries," police said.
"There is no ongoing threat to the public."
Comment has been sought from the Islamic College of Brisbane.
It is the second stabbing at a Queensland school in as many days.
A 15-year-old boy was taken to hospital in a stable condition following an altercation at a high school in the state's far north about 11.40am on Monday, police said.
He sustained wounds to the abdomen at Cairns' Trinity Bay State High School.
A second 15-year-old boy fled on foot and was found nearby about half an hour later, police said.
He was charged with acts intended to cause grievous bodily harm, refused bail and was set to appear in Cairns Children's Court on Tuesday.
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