It happened near Derry Road and Hurontario Street at around 3 a.m. on Saturday.
Police say that the victim was sitting in their vehicle when multiple suspects approached and began banging on the exterior.
One of the suspects then demanded that the victim exit the vehicle, police say.
The victim complied and once they were outside of the vehicle, police allege, they were punched in the head by one of the suspects, resulting in minor injuries.
The suspects then got into the victim’s vehicle and fled the area.
Police say that the 15-year-old suspect was later located and arrested in Toronto. The stolen vehicle was also recovered at that time.
The teen has been charged with robbery and possession of property obtained by crime and has been released on a promise to appear in court. He cannot be named under the terms of the Youth Criminal Justice Act. 
The other suspects, meanwhile, remain outstanding.
It is just the latest arrest in connection with a rash of carjackings that have sent shockwaves through the GTA.
Earlier on Tuesday, Toronto police also announced the arrest of a 41-year-old man in connection with two violent carjackings that were committed over the span of a few hours. m
“These violent crimes are traumatizing for the victims, their families and are unacceptable in our community. Peel Regional Police is increasing resources to combat this intolerable crime”, Peel Regional Police Deputy Chief Nick Milinovich said in a news release.