Sen-Sgt Edwards said the Caloundra man and a friend later boxed in the vehicle at a 7-Eleven service station on Caloundra Rd.
"The (accused) … has reversed at speed and rammed the second vehicle in an attempt to flee," he said.
"The (accused) … was unable to free the stolen vehicle and fled on foot."
The owner retrieved his car keys from the vehicle ignition while his friend gave chase.
Police allegedly found the man a short distance away with stolen property from the car.
The man is expected to appear in Maroochydore Magistrates Court on Thursday.
It came after two people stole a Holden Rodeo from Regatta Cct in Noosaville at 1:50am.