Officers responded around 8:30 p.m. on Sunday to the area of Yorkville Avenue and Yonge Street.
Investigators allege the suspect broke into a highrise building that is under construction and climbed onto a construction crane at the top of the structure.
Police said the suspect had a parachute with him.
When emergency crews arrived at the scene, they demanded the suspect get off the crane, police said. He reportedly complied and was arrested.
Adrian Caguiat of Toronto is currently facing charges for mischief and break and enter.
Deputy Fire Chief Jim Jessop told Global News in the last year, there have been 37 calls for high angle rescues.
He added Toronto is second only to New York City for number of cranes in use in the city.