Every parent's nightmare as man allegedly tries to snatch five-year-old boy off Footscray street in broad daylight

A man who allegedly attempted to kidnap a child in a brazen broad daylight attack in inner-city Melbourne has been charged and released on bail.

Police allege two boys, aged five and 14, were walking on Eldridge St in Footscray about 3.50pm on March 25 when a 32-year-old man approached them and tried to pick up the younger boy.

The teen attempted to stop the man and was allegedly assaulted.

In an earlier statement, Victoria Police said a nearby neighbour saw the incident unfold and yelled out to the man to put the child down.

The younger child was uninjured in the incident, while the 14-year-old was left with minor injuries.

The man was arrested at a Footscray address on Wednesday morning and charged with attempted child stealing, common law assault and recklessly cause injury.

He was bailed to appear before the Melbourne Magistrates' Court on June 21.