At around 1.30pm on Monday (18/4) two teenagers were seen in an altercation near to the Co-op and Favourite Chicken in St Leger Court, Great Linford.
During the altercation knives were seen. No one was injured during the incident.
One of the offenders is described as a black boy aged between 14 and 17-years-old. He was wearing black clothing with a hood up.
Detective Inspector Gemma Robinson, based at Milton Keynes police station, said: “I am saddened to see another knife crime take place in Milton Keynes and it is fortunate that no one has been injured. We have made one arrest in relation to this offence and are conducting a thorough investigation to ensure those involved are held accountable.
“This took place on a bank holiday afternoon and we know the area was busy at the time so I urge anyone who saw anything or who has any information about this incident, to make contact with us.
“You can get in touch using our online form or by calling 101, quoting reference number 43220166231. Alternatively, you can contact the independent charity Crimestoppers anonymously via their website or on 0800 555 111.
“Additional officers will be patrolling the area over the coming days as part of our ongoing work to tackle knife crime.”