Officers launched a public appeal for information about the whereabouts of the boy on Tuesday morning.
They said the boy had last been seen in the Sands Lane area of Lowestoft but had "run off".
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Personnel from the police, fire service and the Suffolk Lowland Search and Rescue were preparing to start a search.
However, shortly afterwards officers confirmed the boy had been located "safe and well" in another county.
Police later said a 23-year-old woman had been arrested at the scene on suspicion of wasting police time.
She was taken to Great Yarmouth Police Investigation Centre for questioning.
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