The Metropolitan Police were called at around 7pm on Friday, June 25 following a report that an unknown male had approached a five-year-old child as he walked home from school along Brick Lane in Tower Hamlets.
The suspect is claimed to have followed the boy before trying to grab him by the hand.
The boy, who was with two other family members, managed to get to a family friend’s home to alert the police.
The child is unharmed and with his family as officers continue their investigation, the Met said.
The Metropolitan Police said they are not aware of any similar or connected incidents at this time and officers are keeping an open mind about the motivations behind this incident.
A Metropolitan Police spokesperson said: "We are aware that imagery relating to this incident may have been shared on social media networks in an attempt to alert other parents.
“Detectives are following several active lines of enquiry including examining CCTV, to identify and speak with the man involved."
The person of interest is described as being an Asian male in his 20s or 30s.
He was wearing a navy jumper, black jeans, black trainers and a black hat at the time of the incident.
The Met said there will be an increased police presence in the area at key times in the coming week, including school drop off and pick up periods.
It comes after a teenage girl in uniform was grabbed and nearly abducted by two men on her way to school earlier this month.
The victim, a girl aged in her mid-teens, was walking along North Countess Road, in Walthamstow, northeast London when she was approached by a stranger.
She told police a white Kia with muddy tyres stopped near her about 8.30am on Wednesday, June 16.
A man she did not know got out of the passenger seat and grabbed her but she fought back and managed to break free from his grasp.
The terrified girl ran to nearby Walthamstow Academy to report the attack to staff.
The Met described the suspect as Asian, aged about 20, 6ft tall, of medium build with short black hair.
Anyone with information about the latest incident is asked to call police on 101 or tweet MetCC, providing the reference 6617/25JUN.